MOSCOW, Nov 2 (PRIME) -- Russian banks may issue record 5.8 trillion rubles of mortgage loans in 2021, VTB Bank Deputy CEO Anatoly Pechatnikov told reporters on Tuesday.
“The mortgage market in Russia has been breaking records for the fourth year in a row. This year, we expect it to grow to 5.8 trillion rubles, which will exceed last year’s result by 33%, even despite the modernization of the state program in July,” Pechatnikov said.
According to VTB estimates, Russian banks issued 4.6 trillion rubles of mortgages in January–October, which is 4.5% more than in the entire year of 2020.
In 2020, the total volume of mortgages issued stood at 4.3 trillion rubles, according to the central bank.
(71.0863 rubles – U.S. $1)
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