Page 65 - bne IntelliNews monthly country report Russia February 2024

November remained almost unchanged, totaling 540 billion rubles. The structure of lending under government programs showed no significant changes: "Family Mortgage" accounted for 241 billion rubles (compared to 235 billion in October), while "Preferential" amounted to 233 billion rubles (compared to 241 billion in October).
Market-based mortgage issuance decreased by 19% to 186 billion rubles from 229 billion rubles in October, attributed to rising interest rates.
The reduction in issuance, despite a consistent portfolio growth rate, suggests a decline in repayments, including early repayments. It's likely that some borrowers with available funds prefer depositing them at higher interest rates and allocate more towards consumption towards the end of the year.
65 RUSSIA Country Report February 2024 www.intellinews.com