From the second quarter of 2023 to the second quarter of 2026, the number of Russian banks issuing mortgages decreased by 13.2% - from 249 to 216, Izvestia writes, citing data from the Central Bank. 33 medium and small banks refused to issue housing loans. Experts attribute this to a decrease in demand for mortgages in the market due to high rates and low profitability of preferred programs. It is increasingly difficult for small players to compete with large banks that are able to attract cheap financing and negotiate with developers.

From the second quarter of 2023 to the second quarter of 2026, the number of Russian banks issuing mortgages decreased by 13.2% - from 249 to 216, Izvestia writes, citing data from the Central Bank. 33 medium and small banks refused to issue housing loans. Experts attribute this to a decrease in demand for mortgages in the market due to high rates and low profitability of preferred programs. It is increasingly difficult for small players to compete with large banks that are able to attract cheap financing and negotiate with developers.