As of 01.03.2014, the mortgage portfolio of VTB Bank (Kazakhstan) increased 12.4% compared with the same index in 2013.
In percentage terms, the Top-5 popular cities to buy real property are: Astana - 19%, Kostanay - 11%, Almaty - 9%, Semey - 8% and Pavlodar - 6%, while the Bank's experts note that in most cases property is acquired in the secondary housing market.
Dmitriy Yakovlev, Retail Business Development Advisor of the Chairman of the Management Board of VTB Bank (Kazakhstan) JSC SO: “Our bank rapidly develops the line of mortgage lending. We offer housing loans up to 120 million tenge as in tenge, so in U.S. dollars. Dynamics of Bank's mortgage portfolio increase, compared with 2013 year, indicates a high interest of Kazakh people in improving their living conditions and it also indicates favorable and comfortable conditions that we offer”.
As previously reported, in February, 2014 the Bank launched a targeted credit for the population - "Special mortgage", which provides the acquisition of real property, that is the collateral of the Bank and put up for sale. Some advantages of this product are the minimum down payment, low interest rate, no arrangement fees, early repayment without penalty, choice of convenient plan of redemption.
For reference only:
VTB Bank (Kazakhstan) JSC SO – is 100% subsidiary Bank of the largest Russian VTB Bank JSC. License of the Financial Supervision Agency of the RK No 1.1.259 dated 22.05.2009.
The Bank is awarded with international rating at “BBB-“/”Stable” forecast level from Standard & Poor’s Agency that gives evidence of the Bank’s positive and stable financial condition. The branch network of VTB Bank (Kazakhstan) covers 17 cities and amounts to 24 sales points.
VTB Bank and its subsidiaries form the international financial group carrying out its activities at Russian and foreign markets. VTB Group is above 30 banks and financial companies in 20 countries of the CIS, Europe, Asia and Africa. The major shareholder of VTB – Government of the Russian Federation (60,9%).