Mortgages Issuance in Russia Breaks Records

Russian banks in September 2020 increased the issuance of mortgages by 16 per cent compared to August to almost 170 thousand loans, while in 9 months the number of mortgage loans received by Russians exceeded 1 million, according to a study of the United Credit Bureau (OKB), PRIME reports. 

It is noted that the last record was set in August 2020, when banks issued 146,000 mortgage loans. In September 2020, the issues increased by 65 per cent ​​compared to September 2019. In January-September 2020, banks issued over 1 million loans, which is 27 per cent more than in the same period last year.

Among the Russian regions, the largest increase in issuances in annual terms in September 2020 was recorded in the Khanty-Mansiysk Autonomous Okrug Yugra (+92 per cent), Moscow (+82 per cent), Krasnoyarsk Territory, Perm Territory, and Chuvashia (all +80 per cent). The smallest growth was recorded in St. Petersburg (+52 per cent), Novosibirsk region (+51 per cent), Omsk and Orenburg regions (+50 per cent), and Udmurtia (+48 per cent).

Ru-Main,  20.10.2020 



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