President and Chairman of the VTB Bank Management Board Andrei Kostin was received by Russia’s President to discuss the bank’s performance, presidential website reports.
According to Kostin, “Mortgages are doing well. We can see no “bubbles” there. In the first six months the bank saw an increase of about a quarter on last year. We are introducing new digital methods to simplify this work. As of June, the average interest rate was 9.9%.”
“The situation with consumer loans is fine; this is actually one of the most dynamically developing sectors,” he said. “We believe that the boiling point has not yet been reached as regards this issue.”