The number of complaints of Russians about bank refusals in credit holidays in July increased by a third
Banks have become more likely to refuse Russians restructuring loans both under their own programs and on credit holidays. “Kommersant” drew attention to the fact that the number of such complaints on the banki.ru forum in July amounted to several dozen, which is almost a third more than in June.
The project of the All-Russian People’s Front “For the Rights of Borrowers” confirmed the trend. According to him, by mid-summer, compared with April, complaints increased by 10-15 percent. Alexander Shornikov, director of the retail risk department at Zenit Bank, believes that the reasons for most refusals are the failure to submit documents confirming the decrease in income, and the falsification of information on the source of income when obtaining a loan. In addition, the bank makes such a decision if the delay is long and a lawsuit has already been brought against the debtor.
“Kommersant” interviewed banks from the top 50, but they are reluctant to disclose information about failures. According to representatives of credit institutions, now the share of approvals is 40-90 percent. At the same time, Dmitry Afrikanov, General Director of the Unicom24 financial ecosystem, emphasizes that Russians will increasingly apply for loan restructuring – borrowers who took loans in March-April at record rates are interested in revising the conditions.
Credit holidays in Russia came into force on March 8 – a month later the number of applications reached tens of thousands, then banks approved 30-50 percent of them. At the same time, according to Kommersant’s information, during the pandemic, in April 2020, the number of applications for credit holidays exceeded one hundred thousand, and then banks gave a positive response to more than half of the applications.
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Experts explain that it is unprofitable for credit institutions to restructure loans both under their own and state programs, since for this they have to increase reserves. If only 20 percent of retail loans are systematically restructured, the consequences for the bank’s profit and capital will be negative, said Andriy Barkhota, an independent expert. In addition, the bank is not confident in the borrowers. According to statistics, during restructuring, the client only restores solvency in half of the cases, and for the bank, it is payment discipline that is a priority, the expert said.
Earlier it became known that international financial organizations began to close correspondent accounts for Russian banks. In particular, Citi and JPMorgan have decided to break correspondent relations with Russian banks. The measure will not affect a number of structures and, possibly, subsidiaries of foreign banks in Russia.
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