Russian Mortgage Lending Doubled in First 6 Months, Agency Says

Russian mortgage loans doubled in the first half from last year as lending conditions eased and low interest rates spurred demand, rating agency Expert RA said.

OAO Sberbank, VTB-24, the retail-lending arm of VTB Group, and OAO Gazprombank led home loan issuance in the period, Expert RA said in an e-mailed report today. The top ten banks accounted for 74 percent of mortage lending from January to June, compared with a 68 percent share during the same period last year, the agency said.

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