December 22, 2016, Moscow – As of December 1, 2016, Sberbank’s mortgage portfolio amounted to RUB 2.45 tln, an increase of 12% year-on-year (compared to 01.12.15). In 2016, Sberbank provided 419,000 mortgage loans to a total of RUB 636 bln (data for 11 months). This is an increase of 11% and 10%, respectively, compared to January-November 2015.
This year over 60% of mortgages were provided for completed residential property (RUB 388 bln), 33% – for residential property under construction (RUB 211 bln). At the same time, 98% of Sberbank mortgages (RUB 207 bln) for buying property on the primary market were issued as part of the State Supported Mortgage product with a lowered interest rate.
Sberbank has provided RUB 339 bln worth of mortgages since March 2015, when the State Supported Mortgage programme was launched. In Russia Sberbank provides 45% of subsidised mortgages.
The federal subsidised programme officially ends on December 31. However, Sberbank made the decision to offer a reduced rate throughout the approval period (60 days) for all applications that are submitted by December 31, inclusive, in the event that they are approved (including in 2017).
In 2016, half of Sberbank’s mortgage sales were made via partners – 28,650 developers and real estate agents (at a 40:60 ratio). Sales via partners increased by 7 pp over the year.
In the outgoing year Sberbank accredited 3,075 properties, a 24% increase year-on-year.
Sberbank achieved all this by gradually reducing interest rates and improving its mortgage services. In 2016 the Bank cut its mortgage rates three times. Currently Sberbank clients can receive mortgages at 10.9% if they use the state subsidised programme and live in one of the regions where it is available, and at 10.25% if the mortgage is for a young family. Mortgages are also available at 11.5% under an offer for developers.
In August, Sberbank launched a nationwide electronic service for registering real estate titles. It lets clients submit documents to Rosreestr in 15 minutes, bypassing the need to visit the agency or a multifunctional service centre and thereby reducing the length of the document registration procedure by an average of five days. The service is available in all 600 of Sberbank’s mortgage lending centres and has been used by over 30,000 people.
Also in 2016, new mortgage-related functions have been added to the Sberbank Online internet bank: clients can now perform partial early repayment of their mortgages, change the mortgage payment date, and also reduce the mortgage term after making a partial early payment at one of the bank’s offices.
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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 4 million corporate clients in 20 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, India, China, Turkey and other countries.
The Bank holds the general banking license No.1481 issued by the Bank of Russia. Official websites of the Bank: www.sberbank.com (Sberbank Group website), www.sberbank.ru.