Bad business loans reach record level In the last few months the volume of bad business debts that are more than 60 days overdue has doubled. Today’s Äripäev writes that businesses have defaulted from EEK 900 million at the end of March to EEK 1.9 billion in business loans. According to experts, the major factor in the rapid worsening of the business climate is the recession of the real estate market. „The slowdown of the real estate market is affecting the whole economy, including Hansabank,“ said Artjom Sokolov, managing director of Hansabank. Sokolov said that Hansabank’s list of bad debtors has mainly smaller and larger housing developers While last summer about one in every twenty business customers was unable to repay a business loan, about 25 percent of companies that have a bad business loan are more than 60 days...
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