The sites are overgrown with debts – Newspaper Kommersant No. 217 (7418) dated 11/23/2022
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The volatile situation in the economy stimulated the growth of bank overdue sales on electronic trading platforms. At the end of October, the volume of offered and sold debt on them reached its maximum value since the beginning of 2021. Working through platforms makes the process open and competitive, while the participants in the transaction do not have to spend money on an independent search for a counterparty. However, the development of these services limits their cost, while the sold debts themselves become cheaper.
According to the results of October, 33.4 billion rubles were put up for sale through Russian online trading platforms. overdue debts transferred by banks under the cession scheme (when the overdue debt is redeemed from the creditor). This is the highest value since the beginning of 2021 and is 66% higher than October of the previous year.
Such data are provided in a study of the online platform for the sale of overdue debts Debex. According to the results of ten months, the amount of exposed bank debts amounted to 173.5 billion rubles, which is 1.6 times higher than in the same period last year. The volume of successful transactions also showed an increase to the maximum values for two years – over 23 billion rubles. in October and 101 billion rubles. for ten months.
At the same time, debts have significantly fallen in price this year. So, in 2021, the average prices by months were 7-11%, then in 2022 they adjusted to 4-8%. As a result of this price drop, the share of successful transactions in the total volume also decreased: 58% on average over the past months of 2022 against 82% on average in 2021. This is partly due to the sale of debts with long arrears.
According to the ETP “Debt Market”, the volume of sold debt overdue by more than three years doubled in 2022. At the same time, Debex CEO Alexander Danilov expects prices to rise by 10-15% next year due to the influx of new buyers into the market.
According to the PKB (First Client Bureau, former First Collection Bureau, one of the largest market participants), in 2021, almost 70% of the debts offered by creditors under the cession scheme were sold through trading floors. According to the collection association NAPCA, this year already 80% of cession debts pass through the sites. By the end of 2022, banks will put up for sale through the platforms 295 billion rubles, Mr. Danilov estimates, while the volume of transactions can reach 172 billion rubles.
The trend is confirmed by other electronic platforms. “The advantage of selling through platforms is that it is a sale at auction. Now in the market, due to instability, there is no idea of the value of the property. Sellers are guided by the previous prices formed in a stable market, and buyers want to get a discount, – explains the executive director of the Russian Auction House Konstantin Raev. – Bidding is an ideal way to identify the fair price of the lot at a particular point in time. Therefore, we can trace the dependence: the more unstable the market, the more transactions are made at the auction.
Companies interested in releasing reserves and those who bought debts at a market price in order to make a profit on collection can work on the sites. These include banks, microfinance organizations, collection agencies, sellers of receivables and companies involved in the debt collection process, emphasizes Denis Belkin, head of the Debt Market ETP. In addition, PKB Managing Director Pavel Mikhmel notes that working through platforms saves money for both sellers and buyers, especially small ones, since there is no need to spend resources on establishing communication between the parties to the transaction.
However, the cost of their services can hinder the development of overdue trading on online platforms, the NAPCA specifies. Now, they explain in the association, payment for the services of trading platforms lies entirely with the buyer, although the seller is also interested in the transaction.
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