The natural person loan portfolio of Ural Bank of Sberbank of Russia amounted to over 54.1 billion RUR at the beginning of 2007, which is 17.3 billion better than a year earlier. Mortgage loans comprised around 20% of the portfolio; the number of auto loans went up 3.6 times compared to the beginning of 2006.

‘Last year, the competition on the regional consumer lending market was extremely fierce,’ says Vyacheslav Reshetnikov, Consumer Lending Director of Ural Bank of Sberbank of Russia.

‘Still, we managed to achieve impressive rate of loan portfolio growth through coming up with more and more attractive lending schemes. We kept reducing commission payments and interest rates throughout the year. Besides, we started offering more time for paying the money back, whereas our requirements related to collateral grew milder. This is why our loan schemes became much more affordable and the borrowers’ expenses occasioned by existing loans decreased into the bargain. The availability of ATM payments and the arrival of new offices (including those specializing in providing services to individuals) were important popularizing factors as well. Among the latest consumer lending-oriented offices are Chelyabinsk-based Mortgage Lending Center and Consumer Lending Center,’ Mr. Reshetnikov said.

This information was provided by the spokesperson for Ural Bank of Sberbank of Russia.