Support The Moscow Times!

Sberbank's Mortgages Up

Sberbank's mortgage portfolio rose 30.6 percent in 2012 to 1 trillion rubles, the bank said, Vedomosti reported.

The bank said it had provided mortgage loans worth 455.5 billion rubles in 2012.

The mortgage portfolios of all Russian banks increased 31 percent to 2.1 trillion rubles last year, VTB 24 said.

Mortgage loans provided by Russian banks totaled 1.15 trillion rubles in 2012, the Mortgage Lending Agency said.

Sberbank increased its mortgage rates twice in 2012, each time by about 1 percentage point. Currently, Sberbank's subprime mortgage rate is 14 percent.

VTB 24 expects Russia's mortgage market to expand 21 percent in 2013, said Andrei Osipov, senior vice president at the bank.

(MT)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.