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VTB is increasing the issuance of loans to the population in the Khabarovsk Territory and the Jewish Autonomous Region

VTB is increasing the issuance of loans to the population in the Khabarovsk Territory and the Jewish Autonomous Region
Photo: pixabay.com

By the end of 2020, VTB's retail loan portfolio in the Khabarovsk Territory and the Jewish Autonomous Region grew by 14%, to 41,8 billion rubles. The outstripping dynamics was demonstrated by mortgage: over the year, the portfolio of loans for the acquisition of real estate increased by a quarter and as of January 1, 2021 exceeded 20,1 billion rubles. Cash loans totaled RUB 19,7 billion (+ 7%).

The portfolio of raised funds increased by 18% to RUB 75,4 billion. Most of the growth was provided by investments of the bank's private clients in investment products. At the end of the year, the volume of investment instruments increased 1,8 times, exceeding 18,1 billion rubles.

In 2020, VTB provided loans to residents of the Khabarovsk Territory and the Jewish Autonomous Region in the amount of 19,4 billion rubles (+ 28% to the level of 2019). Of these, 9,6 billion rubles - in the form of housing loans, which is 73% more than the volume of mortgage sales a year earlier. An additional 9,6 billion rubles were issued in the form of cash loans.

“Growth in retail lending continued in 2020 despite the pandemic. A large role in this was played by state support through the mechanism of subsidizing mortgage rates, as well as the transfer of the most popular services to digital format, which minimized the need to visit offices. It is planned that in 2022, 100% of the bank's retail loan products will be available in digital form, ”said Evgeny Orlov, Vice President, Managing Director of VTB in the Khabarovsk Territory.

He also added that by consistently lowering interest rates, VTB helped borrowers to reduce their debt burden. This is confirmed by the growing demand for refinancing previously issued loans: “In 2020, VTB helped refinance loans to 1,9 thousand residents of the region in the amount of 3,1 billion rubles,” Yevgeny Orlov emphasized.

According to VTB forecasts, the loan portfolio of individuals of Russian banks will increase by about 10% at the end of 2021. Moreover, VTB traditionally plans to grow faster than the market.

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