The volume of "bad" loans in Russia rose to 8.8 trillion rubles

Banks did not pay 59 billion rubles on time on loans to each other.

“Bad” loans overdue for 90 days or more grew by 59 billion rubles in January 2021. The delay reached 4.152 trillion rubles. As Finanz.ru points out, this is only the “tip of the iceberg” of so-called “bad” loans in the banking system. According to statistics from the Central Bank on the quality of the loan portfolio, the total volume of doubtful, problem, and bad loans at the end of November 2020 reached 8.8 trillion rubles.

Every eighth ruble of loans issued by banks has turned into a problem. That is, 13% of 67 trillion rubles became “problematic”. The "toxic" cargo hanging on the balance sheets turned out to be equal to the liquidity of a part of the National Welfare Fund, ten times exceeded the annual budget of the higher education system in Russia, and also exceeded the volume of state defense orders by 4.5 times.

3.2 trillion rubles of bad assets are concentrated in credit institutions that have already been sent for reorganization. The remaining amount of 5.6 trillion rubles is distributed through the system, half of which is not protected by anything. At the same time, more than half of bad loans are not indicated in the reporting.

The Central Bank's concessions will be valid until July 1 of this year. The regulator is not going to postpone their cancellation, said the head of the Bank of Russia Elvira Nabiullina.

It's worth to remind that earlier the Central Bank warned Russian credit organizations that about 20-30% of loans restructured in 2020 could become problematic for banks this year. The regulator advised banks to increase reserves to 2% of the loan portfolio.

Earlier it was noted that the demand for loans in Russia has reached an all-time high. The amount of consumer loans issued in December increased by 4% - to 516 billion rubles.