VTB says plans to issue record 1 tln rbl mortgages in 2021

MOSCOW, Mar 30 (PRIME) -- Russia's second biggest lender VTB plans to issue a record 1 trillion rubles of mortgages in 2021, a 7% increase on 2020, Deputy CEO Anatoly Pechatnikov said on Tuesday.

"Mortgage will remain one of the most robust retail segments and VTB will focus on its development as usual. We plan to set a new sales record this year, issuing over 1 trillion rubles of mortgages for the first time," Pechatnikov said.

He said that the bank's participation in a state cut-rate loan program will contribute to the dynamics and that the bank plans to issue 150 billion rubles of cheap mortgages in January–June.

According to Pechatnikov, VTB offers to unite all beneficial mortgage programs in a single project focused on the regions, where housing launch rates are low. The conditions must remain beneficial for the families with children, people living in the remote areas and private housing construction participants.

He also said that there are no signs that the retail lending market is overheated and VTB expects the soured loan rates in its portfolio to decline in 2021. But lending rates will likely decrease in 2021 to 11.5%. VTB expects to grow above market with cash and credit card credits expanding by almost two times ahead of the market.

The bank plans to attract 2 million new active clients in 2021, Pechatnikov said.

(75.8287 – U.S. $1)

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