Mortgage market growth rate remains high in July — Bank of Russia
Business & Economy
August 21, 2023, 21:15
The mortgage portfolio volumes reached $170.7 bln, the regulator stated
MOSCOW, August 21. /TASS/. The growth rate of the mortgage portfolio of Russian banks remained high in July, according to preliminary data, and totaled 2.5%, the Central Bank said.
"According to preliminary data, mortgage growth rates in July remained at the high level of June, 2.5%," the Bank of Russia said. The mortgage portfolio volumes reached 15.9 trillion rubles ($170.7 bln). The primary market made the main contribution to growth.
The share of nonperforming loans remains historically high and stands at 0.6%.