"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.
(Reporting by Reuters)
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5-day change | 1st Jan Change | ||
0.0188 RUB | +0.51% | +0.16% | +0.16% |
11:19am | Belgium refuses VTB's request to unblock client assets, says Russian bank | RE |
02/05 | Russian court cancels seizure of part of JPMorgan bank's funds in dispute with Russia's VTB | RE |
MOSCOW (Reuters) - Russia's No. 2 lender VTB 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.
(Reporting by Reuters)
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