the Number of indebted microfinance institutions (MFIs) of Russians has almost doubled. In late March, the number of overdue more than 90 days loans to citizens amounted to 4.4 million, which is 47 percent more compared to the same period last year. It is reported TASS with reference to the credit history Bureau “Equifax”.
the Volume of overdue debts grew by 48.6 per cent to 50.1 billion rubles.
Deputy Director of the group ratings of financial institutions rating agencies ACRA Suren Asaturov said that in 2019 the growth of overdue loans were more or less comparable with the growth of the total portfolio of microloans. “Thus, the proportion of potentially bad loans in the past year has not had much change”, he said.
Director on Bank ratings Agency “Expert RA” Igor Alekseev said that the growth of debt from IFIs is associated with the development of their own effective services for recovery. According to him, because of this, the loans are not sold with the balance to third parties.
“Obviously, the dynamics of overdue debt in the first quarter does not take into account the effect of the pandemic and the regime of self-isolation. Most borrowers began to face difficulties at the end of March, so in the MFI reporting this will affect only in April-June”, — noted the Director-head of Bank ratings Agency NKR Mikhail Doronkin.
the President of SRO NAPCA Elman Mehdiyev said that the income of many borrowers has declined, with the result that they are unable to return the loans.
Earlier it was reported that the Russians were more likely to issue microloans in the background of the coronavirus. The number of microloans issued to Russians in March of this year, has increased by a third compared to the same period last year.
