In 2020, 7846 households improved their living conditions thanks to a mortgage from Center-invest Bank. The total value of mortgages issued in 2020 was RUB16bn. At FYE 2020, the bank’s mortgage portfolio stood at RUB40.4bn. This strong performance is reflected in our high positions in the rating produced by the banki.ru portal.
Among Russia’s top 100 banks for size of retail loan portfolio, Center-invest Bank ranks 15th for size of mortgage loan portfolio as at FYE 2020, and also for the number of mortgages issued in the second half of the year. In 2020 Center-invest Bank increased its mortgage lending by 70% compared to the previous year.
Growth in Center-invest Bank’s retail lending has been driven by mortgage lending, including lending under government-subsidised programmes such as the Rural Mortgage and New-Build Mortgage programmes. A total of RUB3.4bn was lent under these programmes in 2020. All of the mortgages are fixed rate for the whole term of the agreement. We do not charge additional fees or require customers to take out insurance.
The bank has its own mortgage programmes and it also participates in government-subsidised programmes. In addition, it has recently introduced unique ESG loans for frontline medical workers.
The bank’s mortgage refinancing programmes remain popular: 23% of the mortgages issued by Center-invest Bank in 2020 were to refinance loans from other banks.
Customers can use a mortgage to purchase a new build property or a property on the secondary market. They can also decide to build their own house. Eighteen per cent of mortgage agreements are for new build properties. Increasingly, customers are taking out a mortgage to purchase a parking space or to refinance a mortgage from another bank.