05.02.2008 /Home mortgage
 Bank of Moscow subsidiaries extend the first mortgages in Japanese yen
Since mid-January 2008, regional subdivisions of Bank of Moscow have extended five mortgages in Japanese yen. The first residential loans in Japanese yen were drawn up in St. Petersburg and the Novosibirsk, Saratov and Stavropol Regions. The total volume of the credits amounted to 56 million yen (i.e., 12.76 million roubles). According to the borrowers, they chose the exotic currency because of the exceptionally low interest rate on the credit. The beneficial interest rate allowed the customers to take out bigger loans than would have been possible in US dollars or roubles. "We are currently considering over 300 applications for mortgages in Japanese yen, 200 of them in the regions", says Managing Director of the Bank of Moscow’s "Retail Business" block Alla Tsytovich. "I believe that this is quite a good result, considering that the programme was launched only a couple of weeks ago. Moreover, it is particularly pleasing that the programme is gaining impetus outside the capital. Let me note that the regions are usually very circumspect about credits in foreign currencies". Center of public relations, Bank of Moscow
(495) 624-74-40
pr@mmbank.ru
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