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THE NUMBER OF RUSSIANS WITH LOANS HAS REACHED 50 MILLION

... of Russia cited statistics as of January 1, 2024. This is more than 40% of Russian citizens over the age of 16. The total amount of debts of Russians in 2023 increased by 6.4 trillion rubles. As the Central Bank notes, the number of citizens using credit products continues to grow. At the beginning of this year, their number reached 50 million people. Of these, 42 million people owe only to banks, 3.9 million – to banks and microfinance organizations, 4 million – only to microfinance organizations....

BANKS OBJECT TO THE DRAFT LAW BANNING FLOATING RATES

... agreements from the total number of loans. In 2022, the State Duma considered the initiative in the first reading. It was supported unanimously. According to the National Council of the Financial Market, the proposed restrictions will lead to losses for credit institutions. In addition, as Kommersant writes, the council does not agree with the requirement to notify about a change in the payment schedule 15 days in advance. The organization believes that it will be difficult for banks to fulfill such ...

FINANCIAL OMBUDSMEN WILL BE INVOLVED IN HELPING DEBTORS

The Public Council under the Financial Commissioner's Office is preparing a draft law on the participation of a financial ombudsman in the pre-trial settlement of disputes on loan debts between banks and citizens. This is not his authority at the moment. As explained by Financial Commissioner Viktor Klimov, on average, 1.8 loans per citizen, over 11 million people have three or more loans. According to Klimov, in case of default, both the lender and the borrower find themselves in a critical situation...

THE CENTRAL BANK INTENDS TO TIGHTEN ITS APPROACH TO CREDIT RISKS

The Bank of Russia is going to join the fight against unfair credit risk management, when financial institutions transfer debt from problem borrowers to third parties to conceal real risks. The Central Bank has published on its website a draft amendment to Regulation No. 590-P, which defines the procedure for the ...

BORROWERS WILL BE WARNED ABOUT THE CRITICAL GROWTH OF DEBTS

... (MFOs) are required to calculate the debt burden indicator (the ratio of monthly payments on all loans to the client's income) for each possible borrower. If the indicator is more than 50%, then the citizen should be warned about the risks. However, how credit institutions will inform Russians about the high debt burden is not yet very clear. RBC has sent a corresponding request to major Russian banks. Most of them did not give an answer, there is no uniform practice of informing Russians about those ...

THE SUPREME COURT RESOLVED THE DISPUTE ON THE RETURN OF A PREFERENTIAL LOAN DURING THE REORGANIZATION OF A LEGAL ENTITY

In 2020, a credit line for 2.7 million rubles was opened for the Dimark Profi medical center in Sberbank in order to restore the organization's operability. Repayment was supposed to take place from April to June 2021. The rate before the repayment period on the ...

SPECIALIZED COMPANIES HAVE THE RIGHT TO INCLUDE A CLAIM FROM A CONSUMER LOAN

The creditor sent an application to the court to include his claim in the relevant register, but the courts of the first and appellate instances refused to satisfy the applicant's claims. The courts concluded that the assignment of the right of claim ...

THE STATE DUMA INTRODUCED A DRAFT ON THE RIGHT OF RUSSIANS TO INTRODUCE A SELF-BAN ON ISSUING LOANS

The bill on the right of a citizen to establish in his credit history a ban on the conclusion of consumer loan (loan) agreements with credit and microfinance organizations with him has been submitted to the State Duma of the Russian Federation. A group of deputies headed by the Chairman of the Financial Market ...

THE LARGEST FISH PROCESSING PLANT IN THE NORTH-WEST HAS STARTED BANKRUPTCY

... largest fish processing enterprise in the region asks to recognize its insolvency by completely stopping production. The deterioration of the financial condition of ROCK-1, according to experts, began during the pandemic. The combine has accumulated credit obligations. Despite this, the firm ended 2021 with a net profit of 74.4 million rubles. Revenue increased by 19%, reaching 7.2 billion. However, in February last year, the company faced sanctions from European countries. The credit burden has ...

THE EMPLOYEE OF THE DEPARTMENT OF INTERNAL AFFAIRS WENT BANKRUPT, BUT REMAINED WITH DEBTS OF 2.5 MILLION

An employee of the Cherepovets police (Vologda region) was declared insolvent with debts of 2.8 million rubles. In the bankruptcy process, 12% of creditors' claims were satisfied. However, the arbitration, completing the procedure for the sale of her property, left her with debts of 2.5 million rubles. The court decided that the woman had abused her right and resorted to deception. It turned ...

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