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Promsvyazbank's NPL ratio up in 2009
21.07.2010
Promsvyazbank's non-performing loan (NPL) ratio moved up from 3 to 12 percent in 2009, RBC TV quoted the bank's Senior Vice President Alexandra Volchenko as saying. She also said that most problems revealed in 2009 involved the retail sector. Furthermore, the bank has cut the time limit for selling non-performing loans to debt collectors: while they kept the troubled loans for more than 1 year, the term is now shorter.
In addition to external debt collectors, Promsvyazbank started to develop its own debt collection service in the second half of 2009 as the most efficient measure to prevent its portfolio of bad loans from expanding. According to Volchenko, the bank is now selling only 1-2 percent of its portfolio, and if there is a chance for the client to weather the storm, the bank is ready to consider debt restructuring.
www.rbcnews.com
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