Alfa-Bank has suspended the issuance of mortgages to workers in industries that have fallen into financial difficulties due to the coronavirus epidemic. The bank believes that from the inability of the borrower to repay the loan “both parties will suffer.” In other large banks, restrictions have not yet been introduced, noting that the profile of work is significant, but not decisive. The victims themselves say that rumors about similar and even tougher approaches of bankers have been circulating among market participants for a long time, and they hope that the example of Alfa Bank will be a single one.
Since April 2, Alfa-Bank has suspended the issuance of mortgage and consumer loans to employees of companies that are involved in industries most affected by the coronavirus pandemic. This was reported by TASS with reference to a letter from a credit institution to customers. The document says that “the issuance (including on approved applications) of mortgage loans to clients in the following areas of employment is not carried out:
- transport (transportation and logistics), including Aeroflot, Russian Railways, etc .;
- sports, entertainment, event organization;
- healthcare, fitness and cosmetology (non-governmental);
- education (non-state additional);
- hotel and restaurant business “.
Such requirements “in the field of activity also apply to co-borrowers participating in income,” the letter says.
“Kommersant” in the press service of Alfa-Bank confirmed that he “temporarily restricted the issuance of loans to workers in the industries most affected by the coronavirus pandemic.” They explained that in this way they seek to “protect clients from excessive credit risks.”
“If the client is unable to repay the loan due to economic difficulties, both parties to the transaction will suffer, “Alfa-Bank assures, hoping that” the situation will improve in the foreseeable future. “
The bank is going to offer the “Credit Quarantine” program to the existing clients experiencing problems with payments due to reasons related to the pandemic in mid-April, under which it will be possible to get a grace period for loan payments from one to three months.
Alfa-Bank resumed the development of mortgage lending from the end of 2017. As of March 1, 2020, according to FrankRG, it ranked eighth among the largest mortgage banks with a portfolio of 131.2 billion rubles. The bank was actively purchasing other people’s mortgage portfolios. Sberbank and VTB, ranking first and second, have mortgage portfolios worth RUB 4.1 trillion. and 1.7 trillion rubles. respectively.
Most of the banks surveyed by Kommersant have not yet taken such radical measures. “VTB does not stop lending in industries affected by the coronavirus pandemic, ”the bank’s press service said. According to a member of the bank’s board “Opening” Irina Kremleva, “taking into account the current economic situation, the bank is conducting a more thorough assessment of borrowers.” At the same time, the decision to grant a loan “is made on the basis of a combination of factors that characterize both the client’s solvency in the past and the prospects for repayment of the loan in the future,” she notes.
AT ICD stated that “the food conveyor is not limited.” AT Raiffeisenbank and Sovcombank also did not limit the issuance. “We determine the approach to each borrower individually. The industry is significant but not critical. Compensating factors may be the property owned by the borrower, credit history, education and work skills, ”explained the first deputy chairman of the board of Sovcombank, said Sergei Khotimskiy. Bank DOM.RF “At the moment, it does not plan to tighten the requirements for issuing loans depending on the sphere of activity of borrowers,” they say, this applies to both the provision of loans to individuals and small businesses.
Aeroflot and Russian Railways did not respond to Kommersant’s inquiries. It is unlikely that any other bank will act as Alfa-Bank, hopes a source of Kommersant from among the large fast food operators. But Kommersant’s interlocutor among restaurateurs is not surprised:
“Rumors that banks may refuse to provide loans to workers in the affected industries have been circulating in our midst for three weeks now. As well as the fact that they will not take new customers from these segments. “
It is sad that the bank put an end to our industry in advance, emphasizes Olga Kiseleva, President of the Association of Fitness Industry Operators in Russia: “We plan to fight for ourselves and for our employees, who are more than half a million people across the country.” “In our industry, a large number of people are involved in specific projects, now all of it is paused,” says the organizer of international jazz concerts Anton Raktovich. In this situation, he adds, the unemployed employees could wait out the crisis, having received the same consumer credit with the surety of working guarantors.