Mortgage refinancing in VTB has grown five times

The «enslavement» of people is gaining momentum

For the period from January to May 2020, the volume of mortgage refinancing at VTB Bank amounted to 82.2 billion rubles, which is five times higher than the volume of refinancing for the same period in 2019.

The debt bondage
The debt bondage

At the same time, only in May 7.7 thousand refinancing transactions were carried out, the total amount of which amounted to 16.4 billion rubles, exceeding the indicators of May 2019. Also, according to Yevgeny Dyachkin, Deputy Head of VTB Retail Business, refinancing accounts for 31% of all bank transactions, which is 3.8 times more than in May 2019.

The massive workload of ordinary people with bank loans has long ceased to be news, and this situation is only one of the pages in this story. Crises repeatedly drive into slavery those people who are deprived of the means of normal living. Loans turn into a slave collar, always reminiscent of who owns the real power in society. Legalized fraud does not stop being fraud, and as long as its beneficiaries continue to write laws — the standard of people’s living will only fall.