Thanks to COVID-19, Russia now has more overdue loans than ever before

Russian banks and microfinance organizations have never had more overdue loans than they do right now: 12.6 million. According to new figures released by the National Association of Professional Collection Agencies and analysts at Equifax, the economic fallout from the coronavirus pandemic has led to the credit boom. The number of loans in Russia at least 90 days overdue is 12.5 percent higher now than at this time last year, and more and more loans go unpaid every day, raising the total by 80,000–500,000 every month. 

from Meduza.io https://ift.tt/3198QSG