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Top 10 banks in terms of loans
Because of low consumer`s demand and slowdown of inflation to projected values, the Bank of Russia moved to easing of monetary policy. The main tool of the regulator is the key rate: currently it amounts to 6,5%. On the next meeting of the Board of directors of the Bank of Russia, that will be held on December 13th, a decision, possibly, will be taken for further lowering of the key rate. Taken measures should encourage bank lending, and, consequently, revival of demand.
The key rate is the main tool to implement monetary policy. The Central Bank of the Russian Federation sets the key rate in order to influence the level of loan rates in the country's economy. In fact, the key rate is the interest rate at which the Bank of Russia lends money to commercial banks.
Sberbank of Russia is the leading bank in terms of the volume of loans granted to natural persons: on November of 2019, loan portfolio achieved 7 101 billion RUB, that amounts to 41,6% of the total volume of provided loans (s. Picture 1).
Picture 1. Volume of loans granted to natural persons on November of 2019, billion RUB.Among Top 10 banks Rosbank shows the largest growth rate of loans for a year: +134% compared to November of 2018 (s. Table 1).
| № | Name of commercial bank | Total volume of loans granted on November of 2019, billion RUB | Growth rate of loans compared to November of 2018 % | Share at lending market, % |
| 1 | Sberbank of Russia | 7 101 | 18 | 41,6 |
| 2 | VTB | 2 875 | 17 | 16,8 |
| 3 | Alfa-Bank | 626 | 47 | 3,7 |
| 4 | Gazprombank | 560 | 20 | 3,3 |
| 5 | Russian Agricultural Bank | 451 | 8 | 2,6 |
| 6 | Post Bank | 407 | 42 | 2,4 |
| 7 | Tinkoff Bank | 357 | 77 | 2,1 |
| 8 | Rosbank | 336 | 134 | 2,0 |
| 9 | Raiffeisenbank | 306 | 15 | 1,8 |
| 10 | Bank Otkritie Financial Corporation | 296 | 127 | 1,7 |
| Other banks | 3 759 | 15 | 22,0 | |
Table 2 contains current minimum interest rates on basic credit products in Top 10 Russian banks in terms of loans granted to natural persons. Green value demonstrates the most profitable offer.
| № | Name of commercial bank | Mortgage loan | Credit | Credit card |
| 1 | Sberbank of Russia | from 5,0% | from 11,9% | from 21,9% |
| 2 | VTB | from 8,4% | from 10,9% | from 16,0% |
| 3 | Alfa-Bank | from 8,09% | from 8,8% | from 11,99% |
| 4 | Gazprombank | from 4,5% | from 9,5% | from 25,9% |
| 5 | Russian Agricultural Bank | from 3,75% | from 7,5% | from 22,9% |
| 6 | Post Bank | Not granted | from 9,9% | from 17,9% |
| 7 | Tinkoff Bank | Not granted | from 9,0% | from 12,0% |
| 8 | Rosbank | from 6,99% | from 10,99% | from 23,9% |
| 9 | Raiffeisenbank | from 4,99% | from 8,99% | from 19,0% |
| 10 | Bank Otkritie Financial Corporation | from 7,95% | from 8,5% | from 13,9% |
The banking system of Russia, despite all the difficulties of it`s establishment, plays the key role in the development of the economy of Russia. Credit interest rates, including mortgage loans, set in the majority of banks, just several years ago seemed unattainable, and now they become real.