Russia’s CBR maintains key rate at 16%
7 hours ago
The stock of overdue payments on bank loans stagnated during Q1 around RON20.9bn (€4.6bn), after constantly contracting during the past two years, data from the central bank released on April 26 revealed.
The share of overdue payments in total bank loans remained constant from the end of last year, at 9.5% of the stock of total loans, though it decreased by 2pp y/y.
Overdue loans refer only to principal and exclude off-balance-sheet items. Falling under this heading are the loans which, on the last working day of the month for which the report is made, are overdue by at least one day.
The payment discipline on foreign currency denominated loans has visibly deteriorated compared to the average or the local currency loans. The overdue loans to total loans ratio edged up to 11.2% at the end of March, from 10.9% at the end of last year. The ratio has been higher for forex loans than for local currency loans over the past couple of years. But this is explained by the constant and robust addition of new local currency denominated mortgage loans that dilute the volume of problematic loans.
| Overdue payments | 2008 | 2013 | 2014 | 2015 | Mar-16 | y/y |
| Total, EUR mn | 719 | 7,291 | 6,429 | 4,633 | 4,667 | -16.4% |
| Local currency | 470 | 2,908 | 2,720 | 1,985 | 2,035 | -10.9% |
| Foreign currency | 249 | 4,382 | 3,708 | 2,648 | 2,632 | -20.3% |
| Total, % of stock of loans | 1.4% | 14.9% | 13.5% | 9.5% | 9.5% | -2.00% |
| Local currency | 2.2% | 15.3% | 13.2% | 8.1% | 8.0% | -2.6pp |
| Foreign currency | 0.9% | 14.6% | 13.7% | 10.9% | 11.2% | -1.1pp |
| Source: BNR, IntelliNews | ||||||
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