Cbank: Russia’s mortgage lending in May lowest since 2018

MOSCOW, Jun 30 (PRIME) -- Russian banks issued only 36,600 mortgage loans in May, down 26.9% on the month, the lowest since 2018, the central bank said in a statement on Thursday.

In monetary terms, mortgage lending shrank by 13.6% on the month to 139.7 billion rubles in May, with the average amount of a loan rising to 3.8 million rubles from 3.3 million rubles.

As a result, the mortgage loan portfolio of Russian banks decreased by 0.1% in the month to 12.412 trillion rubles.

(52.2580 rubles – U.S. $1)

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