Loan restructuring still relevant for businesses: Bank of Russia’s monitoring
Small and medium-sized enterprises (SMEs) applied for loan restructuring in April more often than in March: from 1 to 28 April 2021, 4.3 thousand applications were received compared to 4 thousand in the previous period, which was longer, from 25 February to 31 March. Overall, from 20 March 2020 to 28 April 2021, SMEs submitted 196.1 thousand applications to change the terms of loans. As a result, more than 100 thousand loan agreements worth 917.7 billion rubles were restructured.
Households also demonstrate the need for loan restructuring: in April, they submitted 79.7 thousand applications for restructuring to banks. In total, as of 28 April, banks received 3,535 thousand applications from households to change the terms of loan agreements, of which about 99% were considered. Approvals were granted to 2,073.2 thousand applications, or about 59% of those considered. The total number of restructured loans amounted to 1.9 million worth 927.3 billion rubles.
For details, see the information bulletin Retail and Corporate Loan Restructuring.