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Amount of applications for restructuring increases over last days of loan repayment holidays

12 October 2020

Between 24 September and 7 October 2020, small and medium-sized enterprises (SMEs) submitted over 5 thousand loan restructuring applications. These were the last days when banks were obliged to accept such applications pursuant to Federal Law No. 106-FZ. After 30 September, applications for loan repayment holidays were no longer accepted in line with the law. However, the Bank of Russia recommended that banks continue restructuring loans of individuals facing hardships and SMEs under their own programmes until 31 December 2020.

Overall, between 20 March and 7 October, SMEs submitted 148.3 thousand applications for restructuring. 91.4 thousand applications totalling 792.4 billion rubles were approved.

The number of individuals’ applications for restructuring keeps falling: between 24 September and 7 October 2020, banks received 54 thousand applications vs 63 thousand over the previous two weeks. The total number of individuals’ applications submitted between 20 March and 7 October is 2.88 million, 98.1% of which have already been processed with 1.7 million applications approved.

For details, see the latest issue of the ‘Restructuring loans to individuals and companies’ information bulletin.