Czech mortgage lending may reach EUR 4.2bn in 2011 Hypotecni Banka.

By bne IntelliNews August 29, 2011
Czech mortgage lending may reach CZK 100bn (EUR 4.2bn) in 2011, compared to CZK 85bn a year ago, Hypotecni banka chief executive Jan Sadil told Lidove Noviny in an interview. Czech banks extended CZK 67bn in mortgage loans in the first half of 2011, by 25% more than a year ago, according to data from the local development ministry. The number of credits grew by 48% to 34,960, as loans to individuals increased by 47% to 34,146. Hypotecni Banka was the leader on the local mortgage market, extending loans of CZK 14.9bn in the first half of 2011, up 24.2% from a year earlier. Ceska Sporitelna ranked second with CZK 14.02bn in loans, a year-on-year rise of 119%.

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