© Reuters. German Gref, CEO and Chairman of the Executive Board of Sberbank, delivers a speech during Sber Business Breakfast at the St. Petersburg International Economic Forum in Saint Petersburg, Russia June 17, 2022. REUTERS/Maxim Shemetov/File photo
"Despite the fact that we will most likely see a serious cooling in the near future, 2023 can still be called a successful year for the Russian mortgage market," he said at a financial forum in Moscow. VTB, Russia's number two bank, expects mortgage loans across the entire sector to total 7.2 trillion roubles this year, falling to between 5 and 5.5 trillion roubles in 2024.
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