The St. Petersburg branch of Moscow’s SLAVINVESTBANK (subsidiary of Kazakhstan’s TURAN ALEM) has signed a cooperation agreement with the TORUS investment-construction company. As part of the agreement, mortgage credits will be issued to company clients on easy terms. According to the terms of SLAVINVESTBANK’s exclusive program, credits will require collateral in the form of facilities under construction. The downpayment will equal 0%, if there is an additional security. The credit is both in roubles and U.S. dollars. Profit verification and guarantees are not required. For TORUS clients, the credit interest rate was cut on average by 1.0%, as compared with standard terms, and a loan origination fee was cancelled.

Source: FINNNEWS.RU, August 30, 2007