Sberbank expects transactions in comprehensive debt settlement to rise threefold YoY to 9 bln rubles in 2024

GORNO-ALTAISK. Sept 18 (Interfax) - Sberbank expects the volume of transactions in comprehensive debt settlement to rise threefold year-on-year to 9 billion rubles in 2024, Denis Kuznetsov, director of the Retail Collection and Settlement division at Sberbank, said.

In 2022, Sberbank launched a comprehensive debt settlement program to help people in difficult financial situations restructure their respective loans. A borrower may receive a reduction in monthly payments, a deferment, or an extension of the loan term. To date, 11 financial institutions have joined the program, including VTB , Alfa-Bank, DOM.RF Bank, Rosbank , Otkritie Bank FC , and Sovcombank .

Sberbank, in partnership with other creditors, comprehensively settled 6,200 problem loans totaling 2.9 billion rubles in 2023, as well as 12,500 problem loans totaling 5.5 billion rubles in the first eight months of 2024. Sberbank expects 20,000 transactions in comprehensive debt settlement totaling 9 billion rubles in 2024.

"We project the number of transactions in comprehensive debt settlement to reach 40,000 in 2025, and the volume should total 18 billion rubles, meaning over sixfold growth is expected compared to 2023. Feedback analysis has shown that 80% of clients experience a sense of actual assistance from restructuring through the comprehensive settlement program," Kuznetsov said at the Digital Leaders Forum. A Course for Settlement, as organized by the ABC company.