Household loan restructuring requests resume growth
Between 3 and 16 December, banks received 60.4 thousand requests for change in loan contract terms, which is 5.6 thousand more than two weeks before. Conversely, the number of requests from entrepreneurs dropped to 3.4 thousand against 4.1 thousand in the previous period. The share of restructured loans to corporate borrowers in the total number of approved requests is unchanged at 90%.
Between 20 March and 16 December, banks restructured as many as 94.2 thousand corporate loans to a total of about 840 billion rubles, and more than 1.7 million loans to individual borrowers to a total of over 845 billion rubles. Following the rise in coronavirus infections and toughened anti-epidemic measures in a number of regions, the Bank of Russia has recommended that financial institutions extend through 1 April 2021 restructuring of loans to individual borrowers and small and medium-sized enterprises confronted with the pandemic-induced deterioration in their financial position.
More details are given the Bank of Russia’s information bulletin ‘Restructuring Loans to Individuals and Companies’.