Bankers were able to reformulate around 30% of the population
Saturday, February 6, 2010 19:29Bankers were able to reformulate around 30% of the population of credit debt
Bankers were able to reformulate around 30% of credit debt of the population. Nevertheless, the expected fall of the second wave of restructuring of debts physical persons. It’s been nearly six months since the beginning of a mass campaign to restructure the debt on loans of private borrowers, held by banks. Recall: the fall of last year because of falling incomes and the devaluation of the hryvnia many debtors were unable to service bank loans.
As part of the restructuring of the banks used complex tools, such as the extension of credit, credit holidays (within a certain period the borrower puts out only the interest on the loan) and change the payment schedule, etc. These measures have reduced the amount of monthly payments, and hence reduce Credit burden on the budget of the borrowers. According to bankers, the share of private borrowers who are faced with difficulties, not exceed 30%. “To be honest, our expectations were much worse than what we saw on the fact” – recognized Alexey Rudnev, head of retail business OTP Bank. This encouraging result bankers tend to explain the conduct of a very conservative policy, which allowed to collect good borrowers with a solid safety margin on earnings. However, these claims are questionable, since many banks’ problems have arisen precisely in connection with an active lending physical persons without proper screening.
Arguments …
One way or another, but, according to interviews BUSINESS th market participants, now we can talk about the end of the first wave of restructuring, during which it was re-registered credit debt 20-30% of the population. “We have restructured 18 thousand loans valued at $ 4 billion UAH., Representing 25% of the loan portfolio population. I think this is a very good result “, – said Eugene Demyanov, Deputy Director, Department of products and marketing for private clients of Raiffeisen Bank Aval. Such figures lead and Alexey Rudnev: “restructured loans more than 11 thousand customers, representing about 30% of the portfolio. Now the number of applications for restructuring has declined sharply, ie, we can talk about the end of the first wave of this process. This helped to stabilize the exchange rate. If the National Bank was late for one and a half months with the introduction of special currency auctions, the statistics would have been much worse. ” Recall: in late February, the NBU started to hold special auctions, in which people sold the currency to repay loans at reduced rates. Then the National Bank for the time sold for $ 30-50 million in the conditions of stabilization of the exchange rate the population of almost ceased to use this feature. For example, during the auction on July 1 were sold only $ 2.6 million
Bankers recognize that debt restructuring is not always given the expected results. “Just recently dismantled a situation in Kyiv Board. Borrower is not too well appreciated its possibilities, and found that even after the restructuring of a loan to pay too much for him “- says Eugene Demyanov. At the same time bankers were unanimous report that the whole restructuring has significantly improved the quality of service credit from the borrowers. Restructuring helps those customers who have largely retained their ability to pay. Some of the credits after the restructuring may have some delay, but most of the portfolio quality is significantly improved, “- said Taras Kirichenko, director of retail business of the Bank. Agrees with his colleague Eugene Demyanov: “We see positive dynamics: loans were serviced by the best, problematic debt decreases.
It should be noted that large-scale restructuring was carried out not all banks. “We do not have a lot of restructured loans, to calculate their respective shares in the portfolio. Every borrower is an individual work “, – emphasizes Taras Kirichenko. Some banks do not restructure the debt physical persons. “We have no such thing as a” restructuring. ” We work with borrowers – they repay the loans. New loans not assigned, so the portfolio quite rapidly declining. Also in the structure of the portfolio had a lot of “short” credits: card, or granted in trade networks, “- says Roman Neginsky, head of business to work with commercial enterprises Privatbank. Note that PrivatBank able to return the greatest amount of debt in the market physical persons. For five months, the bank returned the $ 3 billion UAH. loans to the public. The highest rates of loan repayment in relative terms, demonstrates the “Alfa-Bank (Ukraine).” At the same time, many bankers are extremely reluctant to give voice to a number of borrowers who can not pay for loans, even after debt restructuring, or did refuse to comment on this issue.
… And the facts
Evinces bankers optimistic about the effectiveness of measures to restructure the debt of the population is not yet confirmed by the facts. Thus, according to official statistics the NBU, for the incomplete first half of this year problematic debt problems has doubled – up to 40 billion UAH., Or about 6% of the total loan portfolio. Similar rates of economic growth as the volume of outstanding bank borrowing interest income on loans. Thus the population of the servicing of loans having not less than the companies. For example, of the Bank as at 1 May 2009 problem debts of legal entities amounted to 5,14%, while individuals – 5.18% (at beginning of year figures were 1,46% and 2,79% respectively ). No wonder that banks continue to generate maximum rate of reserves for lending operations. As of June 1, the amount of such reserves to the banking system as a whole exceeded 65 billion UAH. That 20 billion UAH. than at the beginning of the year.
Note: about 50% of problem loans accounted for 10-15 banks. Thus their problematic debt grows at a rate characteristic of the entire system. In absolute terms, showed the greatest growth of problem debts of borrowers UkrSibbank. At the same time, the share of “bad” loans in the portfolio of leadership belongs to Alfa-Bank (Ukraine). In informal conversations bankers acknowledge that the problem with the debt to physical persons, things are not as good as it is trying to present to the market participants. “And what do you want? To be honest bankers told you how terrible it actually things are with the quality of loan portfolios, pushing thereby pay even while honest borrowers? “- Said chairman of a major bank, who wished to remain anonymous.
However, I must admit that the banks are making every effort to combat the increasing problem of debt. Sometimes this leads to unpredictable results. Recently the media reported that PrivatBank allegedly sends its customers not paying on loans, fake court decision on the disposition of collateral. In the bank denies this information. “This is nonsense. Our clients really get a letter with the information that the bank filed a lawsuit in court. It also indicates what we are asking the court not more than that “- says Roman Neginsky. Yet bankers admit that sometimes with the borrowers have to work quite hard. “There are borrowers who really, for objective reasons, can not service the debt on the loan, but there are those who simply do not want to do. If the borrower has the money to vacation in France or the United States, he pays a bribe and trying to evade their obligations, we can not tolerate this, “- warns Taras Kirichenko.
Second wave
Market participants predict the beginning of the second wave of restructuring of debt on loans natural persons has already this fall. “We have a critical mass of customers we have already covered, and the main question – what to do next. After all, that the tools that we used in the course of restructuring, in particular, credit vacation, gives respite only for a year “, – said Eugene Demyanov. Some bankers believe that many customers agree to further restructuring of debt. However, market participants also assert that among the clients, there are some borrowers who, through debt restructuring have been able to return to the original schedule of service credit.
It is interesting that the National Bank legislative procedures restructuring credit debt. Recall: 3 June this year, National Bank of Ukraine approved the Decree ? 328 “On measures to ensure repayment of loans.” In particular, the regulator has established clear limits to change some parameters of credit agreements. For example, banks are prohibited from providing credit vacation for more than one year. At the same time extend the initial term of the loan can be no more than two years. The regulator also found that the applicant for restructuring must be documented to prove that he really is unable to service the loan for the initial conditions. Resolution set and prioritize the implementation of restructuring for different categories of borrowers. Thus, according to the document, the priority right to have the restructuring of the family, who took credit for the purchase of the apartment area not more than 110 square. m, not owning other property, and forced to pay a monthly loan more than 30% of confirmed monthly income. In the second stage of restructuring are eligible person who took the bank no more than 200 thousand UAH. education, treatment or completion of construction. In addition, the National Bank took care of the rights and interests of the borrowers. Now banks can not demand payment of amounts assessed by the lending rate, as well as fines, pending a decision on debt restructuring. In addition, bankers are required in writing in accessible form to bring to the borrowers, the advantages and disadvantages of a particular variant of the proposed restructuring.
