Page 100 - RusRPTJan21

While maintaining the current pace according to the results 2020, the growth of the mortgage portfolio may exceed the indicator of the previous year (for 2019 - about lo 20%, excluding the effect of securitizations). There is no concern wit the quality of the portfolio, but there are still some indicators of potential risks. The share of loans with a low down payment has increased (from 23.9% in Q2 2020 to up to 31.7% in Q3 20206), and there was also a significant increase in the volume of overdue debt (by 5% for the period from early May to late October), which has not yet been reflected in relative terms against the background of the growth of the loan portfolio.
It should also be noted that due to the rise in housing prices in the primary market (about 10% 7 in 9 months of 2020), the the effectiveness of preferential programs and the affordability of housing, despite the reduction in mortgage rates (on average up to 7.3% per annum in October - from 8.8% in January 2020).
100 ​RUSSIA Country Report​ January 2021 www.intellinews.com