Russian banks have fallen into the trap of “new normality” — an economic situation characterised by recession and a General decline of income. The volume of bad consumer loans is at a record high, Bloomberg reports with reference to the analysts of FICO (the company develops software which in particular, allows the banks to assess credit risks — approx. “Of the tape.<url>”).
“”The new normal” reflects the evolution of the credit market of Russia: banks went from issuing reliable secured loans to risky products such as credit cards”, — quotes Agency the words of the head of Department FICO in Russia Evgeny Samaritan.
It is noted that the level of overdue retail loans in Russia has stabilized. He grew up in the last seven years and stood at 16 percent.
Fitch analyst Alexander Danilov, in turn, said that Russian banks have enough reserves to cover 90 percent of overdue loans. On the other hand, financial institutions may not have enough funds for loans through the refinancing process and the remaining problem. Danilov noted that they covered a large risk.
“New normal” — economic term that became popular during the global crisis of 2008. Then the experts said that the situation of “new normal” characterized by slow economic growth and high unemployment. In February 2016, the Minister of economic development of Russia Alexei Ulyukayev said that the Russian and global economy entered a “new normal” and rely on rapid growth is not worth it.
