ST. PETERSBURG, June 14. /TASS/. Sber expects mortgage lending will gain 46% in 2023, First Deputy CEO Kirill Tsaryov told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"Sber forecasts to extend mortgage loans amounting to 3.8 trillion rubles ($44.9 bln) this year, much higher than in the last year, when the figure stood at 2.6 trillion rubles ($30.7 bln). We therefore expect the rise in disbursements by 46% in 2023 against 2022," the senior manager said.

The average mortgage loan period in Sberbank has increased by six years from 18 to 24 years, Tsaryov noted, adding that the trend of the intensive growth of the average mortgage term continues since 2019.

SPIEF, the showcase economic forum in Russia, is being held this year from June 14 to 17. TASS is the information partner of the Forum.