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Overdue loans in Russia amount to 1 trillion rubles
As of September 1, the overdue loans of Russians reached Rub1.006 trillion worth. Such figures are provided by the Bank of Russia.
While the bad debts grew slightly over the month – by Rub10 billion (+1%), the growth demonstrated since the beginning of the year reached 73 billion rubles (+ 7.9%).
Compared to 2020, the growth rate of the bad debt portfolio is now lower: the delinquencies grew by Rub151 billion, or 19.8%, in January-August last year.
The proportion of troubled consumer debts in the retail portfolio of Russian banks is decreasing: it was 4.3% (-0.4 pp compared to the beginning of the year) as of September 1, with the consumer credit value of Rub23.6 trillion at the same date.
The delinquency rate returned to pre-crisis levels in June. Experts, however, attributed this broadly to a noticeable increase in retail lending.
“The slowdown in delinquency growth is a result of the Russian economy recovery after the crisis and the resumed economic growth. A doubtless role was also played by the regulator’s moves to cool the unsecured consumer loans market (add-ons to risk ratios were introduced on July 1),” Maxim Osadchiy, head of the analytical department of BKF bank, told RIA Novosti.
According to him, it is the unsecured consumer loans that contributed to the growth of delinquencies most. In 1H 2021, past-due unsecured consumer loans increased by Rub113.4 billion, compared to Rub30.6 billion in overdue mortgages, the expert analyzed the statistics.
According to the Bank of Russia, the retail loan portfolio denominated in rubles grew by 24% (Rub4.6 trillion) over the year, to reach Rub23.6 trillion as of September 1.