The twenty largest Russian banks issued 681 thousand loans worth 2.8 trillion rubles in the first half of the year. This figure is 16% lower than in the same period in 2023. This is written about TASS Referring to Mikhail Goldberg, head of the DOM.RF analytical center.
The peak of issuances occurred in June. By the end of last month, the top 20 banks provided 92 thousand loans for new buildings, which is 62% more than in May. The total amount of loans reached 465 billion rubles (+59% compared to May). Demand increased in anticipation of the end of the preferential program.
Mortgages for the construction of individual houses (IHC) also showed record figures. The issue reached the maximum in history with 25 thousand loans worth 93 billion rubles.
In June, mortgage issuance under state programs amounted to 137 thousand loans worth 658 billion rubles, which is also a record.
Goldberg predicts that the Russian mortgage market will cool down in the second half of the year. The expert explained that the slowdown will occur due to the completion of the large preferential program, high rates and the high base effect of 2023.
On July 26, the Central Bank of the Russian Federation raised the interest rate from 16% to 18% per annum. How will the regulator’s decision affect deposit and loan rates, as well as the ruble exchange rate? In the material “socialbites.ca”.
Previously reportedRussians are accumulating record numbers of car loans.
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Source: Gazeta
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