Russia's VTB to hike mortgage rates by four percentage points to 15.3% - Reuters

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The logo of VTB bank is seen at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 3, 2021. REUTERS/Evgenia Novozhenina/File Photo

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MOSCOW, Feb 27 (Reuters) - Russia's No. 2 lender VTB (VTBR.MM) will hike mortgage rates by four percentgae points to 15.3% from Feb. 28, it said on Sunday, with harsh new Western sanctions forcing the bank to reconsider its mortgage lending parameters.

"Due to the sharp rise in interest rates on the market we are also temporarily suspending the processing of refinancing" operations, VTB said in a statement.

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Russia's VTB to hike mortgage rates by four percentage points to 15.3% - Reuters
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