In the fourth quarter of 2007 ORGRESBANK plans to start the implementation of the program for regional banks’ mortgage loan portfolio acquisition. Thus the Bank intends to significantly increase its mortgage loan portfolio, which is one of the key strategic priorities of the Bank’s development.
As of now ORGRESBANK’s loan portfolio totals over 1 billion RUB (IFRS-based data), more than 100% up in the last quarter.
“Having relations with numerous regional banks, we are aware that some of them want to sell their loan portfolios. ORGRESBANK is ready to start acquisition in the near future,” says Alexander Buzin, Deputy Chairman of ORGRESBANK Management Board.