The volume of household loans restructured by Russian banks increased by about a third in November to 32.5 bln rubles, according to the Central Bank analytical report on the development of the national banking sector.
“In November, the demand of small and medium enterprises for restructuring of loans continued to decline – compared to October, the volume of loans restructured over the month decreased by almost 18%, to 17.2 billion rubles (USD 232 mln). On the contrary, the volume of household loans restructured over the month, increased by about a third up to 32.5 billion rubles,” the regulator said.
For the period between March and October, the banks restructured loans in the amount of about 6.5 trillion rubles, more than 10% of the loan portfolio. The Central Bank named the increase in the incidence of coronavirus infection and the restrictive measures associated with the pandemic among the main reasons for the growth in demand for loan restructuring.
