Number of individuals’ applications for loan restructuring plummets
According to the Bank of Russia’s data, banks received 79.5 thousand applications for loan restructuring from 28 January through 24 February 2021. This is almost 8% more than during the previous period which included the New Year holidays. However, compared to December 2020, the number of applications declined by nearly 25%. Therefore, it can be assumed that, as the economy recovers, households experience less need in this kind of service.
Overall, from 20 March 2020 through 24 February 2021, banks received 3,356.7 thousand applications for restructuring from individuals, of which 99% were reviewed with 2,002.3 thousand approved (60.3% of reviewed). Over 1.8 million loans were restructured for the total amount of 895 billion rubles.
The number of restructured corporate loans reached 97.6 thousand (97% of all the approved applications). From 28 January through 24 February 2021, small- and medium-sized companies submitted a little over 5,000 restructuring applications to banks.
For details, see the ‘Retail and Corporate Loan Restructuring’ information bulletin.