HOME CREDIT & FINANCE BANK opened its first regional mortgage centre in St. Petersburg as part of a regional expansion program for 2007, the bank’s press service has reported. HCFB entered the mortgage credit market in December 2006. In accordance with the mortgage credit development strategy, the bank intends to implement the federal program, providing credit terms affordable to the majority of Russians. The mortgage centre in St. Petersburg can serve simultaneously a large number of clients. The line of mortgage products for St. Petersburg was complemented with a credit to buy shares in communal flats. As of now, the bank has accumulated a mortgage credit portfolio of $3.0 million at the St. Petersburg market. In 2007, bank shareholders were set the goal of turning HCFB from a financial structure focusing on consumer credits and card credits into a universal retail bank. The HCFB mortgage programs will help buy on credit apartments, flats, plots, houses and finance housing construction. It is also possible to borrow cash against the security of real estate and to use it for any purpose.
Source: WWW.NOVECON.RU, May 2, 2007
