VTB assessed the likelihood of easing loan conditions

The Central Bank's decision to lower the key interest rate opens up a new stage of easing conditions for the lending market, VTB said.

However, the bank believes that the changes will be heterogeneous. "In the consumer and car loans segment, the market should promptly respond by lowering interest rates, including on the eve of the New Year. The mortgage market is currently influenced by more factors than just the key interest rate, so changes may be expected as early as next year," VTB noted.

Alexey Okhorzin, Senior Vice President and Head of VTB's Retail Business Products department, added that before the New Year, seasonal demand for loans, primarily consumer loans, traditionally peaks. "Customers are actively preparing for the holidays — buying gifts, equipment and planning trips. Therefore, we lowered the rates immediately after the regulator's meeting so that borrowers could resolve their financial issues," he added.

Earlier today it became known that the Central Bank of Russia lowered its key rate to 16%. Following this, VTB changed the rates on cash loans, with a maximum reduction of 3 percentage points.

All important news is on the Izvestia channel in the MAX messenger.