Bank of Moscow's mortgage portfolio tops 20 billion roubles

The Bank of Moscow’s mortgage portfolio has topped the 20 billion rouble mark. Since the beginning of 2008, there has been an almost 70% increase in loans extended for purchasing real estate. For comparison: the market average growth of the given segment was in the order of 24% (over the first six months of 2008).

"The increase in the volume of Bank of Moscow mortgages is outstripping competitors largely thanks to the Bank’s successful programmes", says Alla Tsytovich, Managing Director of the Bank of Moscow’s "retail Business" unit. "Moreover, it is no secret that a number of banks in Russia have rejected mortgage financing programmes, so the demand for our product has automatically risen."

Retail is one of Bank of Moscow’ priority business spheres. "As of today, a large proportion of loans are being extended in the regions, which account for over 12 billion roubles of them", Alla Tsytovich says.

Center of public relations, Bank of Moscow
(495) 624-74-40
pr@mmbank.ru

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