VTB came out on top in terms of issuing preferential mortgages

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Sberbank for the first time dropped to second place in terms of the rate of issuance of mortgage loans for apartments in new buildings. The leader was VTB, which began to catch up with Sberbank against the backdrop of a general decline in demand for mortgages.

By mid-May, the mortgage market in Russia began a gradual recovery, experts from the DOM.RF platform came to this conclusion. From May 12 to May 19, Russian banks issued a maximum of mortgage loans for a month and a half, for a total amount of 12.4 billion rubles. The average loan amount has also grown, in May it is about 5.5 million rubles. For the first time in the history of the state support program, Russians received the most preferential mortgages not from Sberbank, but from VTB.

In the first three weeks of May, a total of about 4.2 thousand loans were issued under the state subsidy program. After the preferential mortgage rate increased, even the largest banks’ lending rates dropped significantly, and the results of Sberbank and VTB became almost the same. In the third week of the month, VTB took first place for the first time: it issued 911 mortgage loans for housing in new buildings, and Sberbank – only 777 loans.

In April, VTB was already locally ahead of Sberbank, but according to the overall results of the month, Sberbank remained in first place. The bank’s management hopes to win back its positions in May as well.

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