Cbank sees mortgage lending growth slowing down to 10–15% in 2022

MOSCOW, Apr 20 (PRIME) -- Russia’s central bank expects growth of mortgage lending to slow down to 10–15% in 2022, as seen by PRIME in the regulator’s materials on Wednesday.

“Considering the end of the beneficial mortgage lending program on July 1, such lending can decelerate significantly already in July–December, but the market will be supported by family mortgage that has a sufficient limit to provide demand this year. As a result, mortgage lending growth is to slow down to 10–15%,” the authority said.

The central bank also said that the situation in Russia’s banking sector has stabilized in March as compared to the last week of February.

Corporate deposits in Russian banks fell by 0.01%, or by 3 billion rubles, and loans by 0.3%, or by 171 billion rubles, in March, it added.

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