26 Jan 2011 15:42

Sberbank looks to grow retail loan portfolio 20% in 2011

MOSCOW. Jan 26 (Interfax) - Sberbank of Russia is planning to increase its portfolio of retail credits by 20% this year, head of the bank's retail lending department Natalya Karaseva told the press on Wednesday.

"We expect growth of around 20% over 2011," Karaseva said.

Sberbank projects 20% growth for various bank products such as consumer and auto loans, Karaseva said. The bank expects mortgages to increase 25%. "The potential for growth in home lending is high. We expect growth of 25%," she said.

Sberbank ended 2010 with a home-credit portfolio of about 600 billion rubles, and expects it to grow to around 750 billion rubles by the end of this year.

As of January 1, Sberbank had reduced the percentage of delinquent loans to 3.9% of its overall retail credit portfolio. "Past-dues at the end of 2010 were 3.9% against a target of 4.2%," Karaseva said.

Less than 1% of credits issued under the bank's rapid-loan 'credit factory' program were overdue.