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Russian banks restructured loans to individuals for $9.3 bln since mid-March

Over the reporting period, banks received 26,600 applications for mortgage vacations and approved 50% of the applications that were considered

MOSCOW, July 20. /TASS/. From March 15 to July 15, Russian banks restructured loans to individuals for a total amount of 665.9 billion rubles ($9.3 bln), the Bank of Russia reported on Monday.

"Restructuring of debts of individuals. <...> During the period from March 20 to July 15, banks restructured loan agreements totaling 665.9 billion rubles," the regulator says.

The banks received more than 2.4 million requests to change the terms of loan agreements. As of July 15, they considered more than 96% of applications. According to the regulator, the share of approved applications was 61.6% of those considered. That means that more than 1.4 million applications for restructuring of loans were granted, and 892,900 applications were rejected.

Over the reporting period, banks received 26,600 applications for mortgage vacations and approved 50% of the applications that were considered. Now banks are considering another 8,200 applications.

The number of restructured loans of legal entities (except for SMEs) exceeded 2,800, and their volume amounted to more than 3.5 trillion rubles ($49 bln), or 11% of the total portfolio of systemic banks.