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NPLs growth rate doubles in Russia

Experts: The share of overdue loans continued to grow at a moderate pace until the end of the year

Baku. 16 May. REPORT.AZ/ In Russia the growth rate of the share of overdue loans in the I quarter of 2016 doubled and reached 17.82% in annual terms.

Report informs referring to vestifinance.ru, the share of loans past due more than 90 days from the beginning of the year increased by 0.85 p. P. and amounted to 13.35%. Total loans for which payments were not made on time, since the beginning of the year increased by 800 thousand pieces and amounted to 13.6 million pieces.Number of loans with overdue payments of more than 90 days from the beginning of the year increased by 670 thousand pieces and amounted to 10.2 million loans.

The volume of overdue debt amounted to 1.217 trillion rubles (18.7 bln USD), or 13.42% of the total loan debt of citizens.Since the beginning of the year the figure rose by 67 bln rubles (1.04 bln USD).

Overdue debts more than 90 days increased from the beginning of the year to 63 bln rubles (0.97 bln USD), their volume amounted to 1.176 trillion rubles at the end of quarter I (18.1 bln USD), or 12.92% of total outstanding loans.

The fastest growth in the share of overdue loans was observed in the segment of cash loans. Since the beginning of the year, the rate increased by 1 p.p and amounted to 21.95%. The volume of overdue loans in cash amounted to 755 bln rubles (11.6 bln USD), or 18.08% of total outstanding loans. The level of overdue debt and in the segment of auto loans markedly increased. The delay has increased by 0.8 p. p. and reached a value of 13.90%.The volume of overdue car loans amounted to 71 bln rubles (1.1 bln USD), or 14.49% of total outstanding loans.

In the credit card segment, the share of overdue loans increased from the beginning of the year by 0.5 p. P. And amounted to 14.58% of the total number of active credit cards.The volume of overdue debts on credit cards amounted to 243 bln rubles (74 bln USD), or 26.24% of the outstanding loans on the cards.

The Director-General of the United Credit Bureau (OKB) Daniel Zelensky said that the beginning of the year is traditionally characterized by high rates of growth in the share of overdue loans and it is largely due to the seasonal factors.

"But this year we have seen that the growth has been more moderate than during the same period last year. This is due to the credit policies pursued by banks, which in the past year have severely restricted lending, tightening requirements for borrowers. At the moment, we do not see the prerequisites to a sharp increase in retail lending this year, therefore, most likely, while maintaining the current macroeconomic situation, the share of overdue loans will continue to grow at a moderate pace until the end of the year", he said.

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