Russian banks’ record mortgage lending growth in 2023 shows signs of overheating in the sector, Alexander Danilov, director of the central bank’s banking regulation and analytics department, said on Tuesday.
Bank’s mortgage loans portfolio grew by a record 34.5% last year, the central bank said in a report, and the sector posted record profits of 3.3 trillion roubles ($36.98 billion).
Danilov said mortgage lending in 2024 was expected at 7-12%.
($1 = 89.2425 roubles
source: zawya
