Russians owe banks more than all the frozen assets of Russia

Russians owe banks more than 30 trillion rubles.

The frozen assets of the Central Bank of the Russian Federation are exceeded by the amount in terms of currency.

The amount of debt per household rose to an average of 510 thousand rubles.

Citizens' debt load percentage rose to 41%.

More than 14 million people defaulted on their loans.

As of May 1, 2023, the Central Bank of the Russian Federation reported that Russians had accumulated a debt of 30.22 trillion rubles to banks, an increase from the 27.8 trillion rubles reported in the first quarter.

The Bank of Russia has frozen assets in the west worth less than the $380 billion in debt held by citizens.

At the start of the year, the debt load of Russians was 35%, but it has since risen to 41%. The average credit debt per household has also gone up to 509.6 thousand rubles.

Experts believe that the trend will result in even higher growth in these indicators during the second quarter. However, the rise in debt levels combined with inflation and a decrease in real disposable income will have a detrimental effect on financial stability and the economy in general.

In Russia, mortgages are the most widely used form of lending, accounting for more than 50% of citizens' loan portfolios.

The Federal Bailiff Service (FSSP) reported that the number of loan defaulters has risen to more than 14 million, a 25% increase from the first quarter of 2022.

rublesThe amount of debts claimed for collection on loans rose to 400 thousand rubles, up from 350 thousand rubles on average.

The Federal Resource reported that the number of bankrupt citizens in the first quarter of 2023 rose to 76,000 people, a 40.3% increase from the same period in 2022. This significant increase in bankruptcies was a major factor in limiting the growth of arrears.