Page 78 - RusRPTJun20

But the portfolio of retail loans decreased (RUB0.7%, or RUB128bn) in April. ​This is probably due to the tightening of banks' requirements for borrowers, restrictive measures, as well as a decrease in demand from the population for loans due to the uncertainty regarding income stability, the CBR said.
Loan restructuring is on the rise. Small and medium-sized businesses have already restructured RUB343bn of debt (0.3% of GDP)​. Banks have approved 75-77% of restructuring applications. People are also taking loan holidays. Loans to SMEs for salary payments (at a 0% cost for borrowers) have reached RUB46bn, out of a total limit of RUB150bn for this facility. The CBR plans to expand this program to cover large enterprises, with a limit of RUB50bn.
The shares of overdue microloans in Russia in April 2020 jumped by 40% to over 4.5mn loans​, RBC business portal reported citing the estimates of Equifax. This marks the highest shares of bad microloans since 2026, while it could rise further to 50%, analysts at AKRA rating agency believe. The total volume of overdue loans reached RUB51.3bn ($0.7bn). Another RUB4bn have overdue by less than 30 days. Overall the microloan market as of May 1, 2020 had reached RUB150bn through 11mn loans.
Individuals have now filed 1.4mn loan restructuring applications, ​up 400k since April 22. Banks have reviewed 89% of the applications and have approved 58.5% of those (the approval rate was 44% three weeks ago and just 14% when the first review was published). Importantly, about 85% of the applications have been for the banks' own restructuring programs rather than the official state program. The CBR said that R330bn of retail loans have been restructured since March 20 (about 2% of total outstanding retail loans).
SMEs have submitted 94k restructuring applications, with 20k coming since April 22. ​Some 77% of the applications have been approved. R343bn of SME loans and R502bn of corporate loans (excluding SMEs) have been restructured, which corresponds to 2% of total corporate loans outstanding.
78​ RUSSIA Country Report​ June 2020 ​ ​www.intellinews.com