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UniCredit Bank extended mortgages totalling CZK 12.1bn

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UniCredit Bank Czech Republic and Slovakia extended mortgages totalling CZK 12.1bn in 2016, up more than 7% y/y. Demand grew primarily at the end of the year, when the bank extended 30% more mortgages. The spokesperson for UCB, Petr Plocek, has told ÈIANEWS that figures from 2016 will probably not be beaten in 2017. Czech National Bank’s new maximum LTV (loan-to-value) limit will affect the availability of mortgages and will probably slow down the entire mortgage market. UCB views the limit that will gain effect from April 1, 2017, and will influence mortgages with 80-90% LTV, as very important. Banks will be allowed to extend only 15% of total production in this LTV band.  


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