Russian banks boost mortgage lending 57% in H1
MOSCOW. Aug 3 (Interfax) - Russian banks provided borrowers with 429.4 billion rubles in mortgage loans in the first half of this year, 57.0% more year-on-year (273.4 billion rubles), the Central Bank of Russia says on its website.
The number of loans extended in H1 increased 49.9% to 295,500 from 197,200 during the same six months last year.
Total mortgage-loan debt owed by private citizens stood at 1.673 trillion rubles on the first of last month, 13.1% up from the start of this year (1.479 trillion rubles).
Debt on credits extended in rubles increased 16.5% over the half to 1.531 trillion rubles from 1.314 trillion rubles, but debt on credits in other currencies (in ruble equivalent) decreased over the six months from 164.7 billion rubles to 142.2 billion rubles.
Second-quarter lending increased 37.1% quarter-on-quarter to 248.3 billion rubles from 181.1 billion rubles. Banks extended a bit few credit funds in Q2 than in Q4 2011, when credits amounting to 248.9 billion rubles were issued (and that remains the highest figure for a quarter).
The number of credits issued in Q2 2012 increases 32.8% quarter-on-quarter to 168,600. That figure was only higher in Q4 of last year - 184,200 credits issued.
The mortgage loan in rubles extended during Q2 was 1.452 million rubles, 2.8% more than in Q1 and 8.9% compared with Q4 2011.
On the other hand, a single credit in other currencies reached a record 8.407 million rubles, 26.8% up on Q1 and 21.7% on Q4 of last year. It bears noting that the number of forex credits issued during a quarter in recent years number in the hundreds, notably 321 in Q1 this year and 503 in Q2.
Overall past-due mortgage loan debt had increased to 45.9 billion rubles by end-Q2, up from 45.3 billion rubles at the start of the year.
Past-due credits in rubles slipped a little to 25.4 billion rubles on July 1 from 25.9 billion rubles at the start of the year, but past-due forex credits increased to 20.4 billion rubles from 19.4 billion rubles (under the possible influence of forex revaluation amid a weakening ruble).
The proportion of past-due forex credits increased to 14.4% from 11.8% due to a drop in overall owings on forex credits to 142.2 billion rubles from 164.7 billion rubles. The proportion of past-due ruble credits decreased to 1.7% from 2.0%.
The average weighted interest rate on mortgage loans in rubles extended last December was 11.6%, credits in May and June this year were offered at 12.2%. The lowest rate was 11.4% in November of 2011.