KOMMERSANT. Banking group Moy Bank, owned by Gleb Fetisov, is going to change the rollout strategy of its specialized mortgage lender. This year Moy Bank. Ipoteka will become a universal lending institution, as the spin-off of mortgage assets has already got under way. So the group will have two universal banks, Kommersant business daily wrote Wednesday.

Information that Moy Bank Group will turn its mortgage lender into a universal bank was disclosed by Moy Bank. Ipoteka board chairman Sergei Platonov. “If previously the banking group’s development strategy primarily focused on products, from now on the strategy will be framed on a geographical basis," he said.

For the record, banking group Moy Bank consists of three lenders: head universal bank Moy Bank, Moy Bank. Ipoteka (established in late 2006 to roll out mortgage lending) and corporate-focused Moy Bank. Novosibirsk that does business in the Siberian region. As of November 1, 2009 the group’s aggregate assets came to Rub 18 bln. Around Rub 7 bln of this amount falls to corporate credits and retail loans account for Rub 1.8 bln. The group’s aggregate capital is equal to Rub 2.8 bln and net profit totaled Rub 252 mln. The group’s major shareholder is former Federation Council member Gleb Fetisov.

As material facts disclosed by the bank show, in September and December 2009 Moy Bank. Ipoteka sold its mortgage loans worth around Rub 530 mln to the head bank, Moy Bank. This accounts for roughly a third of its assets. “The decision to sell these mortgage loans to the head bank was taken in a bid to clear the lender’s balance sheet and improve capital adequacy," Platonov explained. Moy Bank. Ipoteka entered the corporate lending market in 2008, which boosted its portfolio. As a result, by the end of 2009 the lending institution’s capital adequacy closed in on 13%, which prevents the bank from bumping up lending. Following transformations, Moy Bank. Ipoteka business will undergo minor changes, Platonov assured. De facto, the bank is already a universal regional bank: as of early 2010 corporate credits account for 70% of the credit portfolio, 27% falls to mortgage loans and 3% to auto and consumer loans.

However, a Moy Bank executive said that Moy Bank. Ipoteka could entirely abandon mortgage lending business. “It is more feasible to roll out mortgage lending through City Mortgage Bank, as the group’s shareholders already decided in principle to acquire the latter," the newspaper’s respondent said.