Bank of Estonia: 5.2% Credits Overdue by More than 60 Days
Bank of Estonia reported that the volume of loans overdue by more than 60 days increased in April, 2009, making up 5.2% of the portfolio. In March the respective indicator was 4.5%.
Considering the recent months’ changes in the major economic indicators, the April deterioration in the loan portfolio quality was a logical outcome. Nearly 75% of deterioration derived from the corporate credit sector; households have so far been more successful in loan servicing. Thus, loans overdue by more than 60 days accounted for 6.4% of the credit issued to enterprises and 3.9% of the credit to households.