Sberbank’s portfolio of residential loans exceeded RUB 2.5 bln as April 1, 2017. This is a 10% increase year-on-year.
Currently Sberbank is offering annual mortgage rates as low as 8.4% and 8.9% as part of a special programme involving developers. These rates are available to those who wish to acquire housing from one of several hundred developers throughout Russia. Standard mortgage rates for under-construction and ready housing stand at 10.9% and 10.75%, respectively.
In 2016, Sberbank introduced a new online service called DomClick, which lets clients submit mortgage applications, receive approvals for these applications, select properties and get them approved by the bank. The bank has provided more than RUB 2.7 bln of mortgages for applications processed via DomClick.
Currently 2.5 million Russian families have Sberbank mortgages.
Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and more than 1 million corporate clients in 22 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries.
Author: Anna Dorozhkina