The Bank of Mongolia has postponed loans to 6,596 borrowers
The Bank of Mongolia has postponed loans to 6,596 borrowers The Bank of Mongolia provided information on current issues today / April 30, 2020 /. The bank publishes a quarterly loan status survey. According to the survey, over the past two months, commercial banks have tightened lending criteria for individuals. However, the loan terms have not changed. Due to the coronavirus infection, the demand for loans has decreased. Commercial banks will not change their loan terms if they tighten their lending criteria next month. 6,596 borrowers have been deferred in consumer lending. The amount of overdue loans is about 76 billion. Individuals deferred their loans for an average of 6.2 months. The debt-to-income ratio has declined. By type of loan, salary loans account for 90.4 percent. The volume of non-performing loans in the banking sector decreased by MNT 9 billion from the previous month, and the share of non-performing loans in total loans was 10.7 percent. Overdue loans increa...
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