In 1Q2007, Russia’s ENERGOMASHBANK (St. Petersburg) raised the mortgage lending by over 87% year-on-year. Over the period under review, the bank issued 279 mortgage credits in excess of R407 million in ST. Petersburg and the outlying region. ENERGOMASHBANK is currently cooperating with the St. Petersburg Mortgage Agency and the Leningrad Region Home Loan Agency. The bank issues credits in Russian roubles for periods under 30 years with a downpayment from 10% of the cost of real estate and an annual interest rate from 11%.

Source: FINNEWS.RU, April 11, 2007