VTB Group's banks (VTB 24 and VTB Bank's retail division) issued over Rub 320 bln in mortgage loans in 2016, or 50% more than a year ago. Meanwhile, loans extended by VTB Bank's retail division totaled Rub 40 bln, a record in the bank's history.
Nearly a half of mortgage loans granted this year falls to the government-backed program, with VTB 24 and VTB Bank lending nearly Rub 140 bln in January-November 2016. Overall, during two years of the program the group's banks granted around 120,000 mortgage loans for a total of Rub 220 bln. VTB 24 and VTB Bank's retail division account for 28% of the program.
VTB Group's mortgage portfolio reached nearly Rub 1 tln in 2016. The total share that VTB 24 and VTB Bank's retail division command in the mortgage market is equal to 21.5%.
