Sberbank sees no risk of bankruptcy among major borrowers, ready to restructure debt if necessary - deputy board chairman

MOSCOW. March 24 (Interfax) - Sberbank currently sees no risk of bankruptcy among its largest borrowers and is prepared to restructure debt if necessary, Sberbank First Deputy Board Chairman Alexander Vedyakhin told Interfax.

"The default rate among Sberbank's largest borrowers is very low, which can be explained by the scale and high diversification of their businesses. We do not see bankruptcy risks in this segment at the moment. Sometimes the industry environment is stable, but a client simply miscalculates their debt burden. In such cases, we immediately start looking for a mutually acceptable solution, and we usually find it quickly, because it is important to us that the client's business continues to develop and grow," Vedyakhin said.

The bank continuously analyzes the situation to identify corporate clients who may soon face difficulties in meeting their debt repayment schedules. "We take a proactive approach. We offer debt restructuring - adjusting the payment schedule, extending the loan term and so on," he said.

The situation remains challenging in some industries, such as coal mining, he said.

"Market conditions are currently unfavorable. There are difficulties in transporting products, and Russian coal is also facing price discounts. Industry leaders have diversified their sales, and we do not expect bankruptcies among them. However, small companies that ship coal of a single grade to a limited number of buyers are certainly at risk," Vedyakhin said. Sberbank closely monitors the situation in this sector, he said.