"People who actively took out consumer loans before the crisis were unable to continue to process them, including due to the tightening of bank policies. Such clients began to increase their debt on credit cards, and then, due to the increase in the load, they applied for debt restructuring", - Irina Nosova, director of the ACRA financial institutions ratings group, explained in an interview with RBC.
She noted that this can be considered an indicator of deterioration in the quality of individuals' debt.
Also, according to ACRA, credit institutions risk losing 600 billion rubles - 5-6% of their capital - due to large volumes of restructuring in general. If all the loans that citizens restructured remain problematic, then banks will have to create reserves for 70% of the debt.
Today in Russia the share of overdue debts is 4.6%, which is less than in the last and the year before last. Experts believe that this is due to the active growth in lending and the restructuring of loans.
Let us recall that the bankruptcy procedure of an individual has become easier for Russians. Since yesterday, amendments to the law "On bankruptcy" have come into force, which provide for the release of debtors from unfulfillable obligations out of court.
Note that due to the crisis caused by the coronavirus pandemic, Russians began to miss payments on loans and microloans more often. In the second half of 2020, citizens were unable to meet their debt obligations in almost every second case.