OREANDA-NEWS. April 26, 2012. Sviaz-Bank keeps on increasing the number of mortgage issues, and it placed 11th at the end of 2011 in the rankings of banks for the total amount of mortgages, as reported by the RBC.Rating Agency that estimated the size of mortgages issued by the Bank at 8 billion rubles, a growth of 324% on 2010, reported the press-centre of Sviaz-Bank.  

The Bank leapt 14 lines up in the mortgage rankings, a sign of remarkable growth in mortgage business.

With 2.6 billion rubles in total mortgages the Bank had issued against the security of the borrowers’ existing realty in 2011, it was ranked second among banks for mortgage totals, showing a record 606% growth from the year before.

The Bank is 10th, with 5.4 billion in mortgages, or 255% of the 2010 figure, for total mortgages issued against the security of the realty to be purchased by the borrowers.

Overall, the Bank was ranked 16th for the portfolio of mortgages it had issued by January 1, 2012. The Bank increased its portfolio 4.4-fold, to 9.3 billion rubles, over the year, which is an indication of the Bank’s prudent interest rate and product selection policy. The Bank’s mortgage products enjoy a high demand with different borrower categories, against formidable competition in the banking market.

The Agency’s analysts say that the mortgage market is still in a steep climb.

Finally, the Banks.ru portal names Sviaz-Bank among the three leaders in the size of their mortgage portfolios. According to its report, the total of Sviaz-Bank’s mortgages issued in 2011 rose almost fivefold, to 9.3 billion rubles. “This is by far the most spectacular portfolio growth among the biggest Russian banks in the rankings published by the information analysis service of the Banks.ru portal,” reads the comment on the survey.