Sberbank of Russia to resort to collection services
Sberbank of Russia, working with troubled borrowers by itself, intends to invite collection agencies to help in collecting bad debts. The bank has no enough resources of its own to collect bad debts, so it holds tenders for collectors. According to experts, it will enable the largest bank, which takes a 30% share of all private credits issued in Russia, to collect its debts more efficiently.
Sberbank’s delay on its retail portfolio has increased by 1.7 percent, and as of September 1, 2009, has reached 2.9 percent. At the same time the retail portfolio has reduced from 1.25 trillion roubles to 1.17 trillion roubles.