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Russian Mortgage Lending Doubled in First 6 Months, Agency Says

Sept. 21 (Bloomberg) -- 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.

Link to Company News:{LSRG RU <Equity> CN <GO>} Link to Company News:{PIKK RU <Equity> CN <GO>} Link to Company News:{SBER RU <Equity> CN <GO>} Link to Company News:{VTBR RU <Equity> CN <GO>} Link to Company News:{8229710Z RU <Equity> CN <GO>} Link to Company News:{GZPR RU <Equity> CN <GO>}

To contact the editor responsible for this story: Paul Abelsky at pabelsky@bloomberg.net

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