Page 89 - RusRPTDec22

8.1.8 Sberbank news
Sberbank’s mortgage portfolio may add almost 16% by the end of this year, and more than 9% next year, Chief Executive Officer of Russia’s top lender Herman Gref said on the sidelines of the AI Journey conference on November 24. "We expect mortgage loan lending by Sber to reach 2.45 trillion rubles ($40bn) by the end of 2022. Sber’s portfolio growth is projected at 9.3% in 2023 (provided the State support-2020 program is cancelled), and 15.9% in 2022," he said.
First Deputy CEO of the bank Kirill Tsarev said earlier that total mortgage loan disbursements were expected to decreased by around 14% by the end of 2022 in annual terms. The bank registered a slowdown in mortgage disbursements in the first half of October but the dynamics recovered in early November, he added.
8.1.8 Bank news
The US government has asked banks to continue servicing several Russian companies. The US Treasury Department and the State Department have secretly asked the largest American banks, including JPMorgan and Citigroup, not to refuse cooperation with certain strategic Russian companies, writes Bloomberg. In this way, the country's leadership seeks to minimize the adverse consequences of the sanctions regime and avoid a "global economic catastrophe”. In particular, banks were asked to continue providing essential
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