Page 108 - RusRPTJul22

8.1.2 Loans
In May, the corporate portfolio contracted slightly (down RUB124bn, or -0.2%) due to a decrease in the currency part (down $1.8bn, or RUB126bn in ruble terms).
The ruble portfolio practically did not change (RUB2bn rubles), despite the issuance of about RUB300bn within the framework of government programs to support lending to systemically important companies.
Demand for loans from companies is limited, among other things, due to problems with logistics, as it has become more difficult to bring in imported equipment and goods, as well as due to difficulties in finding new partners and markets.
The mortgage portfolio remained almost unchanged (according to preliminary data, -0.1%), while the issuance of preferential mortgages in May amounted to about RUB50bn, which is only slightly higher than April (RUB46bn) due to the rate cut to 9% from April 30 .
Issues of family mortgages decreased by more than a third
(to RUB43bn from RUB68bn), although the rate on it is 6%. This may be due to the fact that the main demand of the population for family mortgages was satisfied in March-April 2022 (borrowers who had been planning to take out a mortgage for a long time did so
108 RUSSIA Country Report October 2020 www.intellinews.com