SKB-Bank experts report more mortgages were given to Russian banks’ customers in the first quarter of 2007 than a year earlier. Sverdlovsk Region with its 2.7 billion RUR worth of mortgages was No. 7 on the Top 10 list. 12.6 billion RUR worth of loans were issued in Moscow, Moscow Region with its 5.2 billion RUR worth of loans was No. 4 on the list, 5.5 billion RUR worth of loans were issued in Saint Petersburg, 5.6 billion RUR worth of loans were issued in Tyumen Region, banks of Khanty-Mansiysk Autonomous Region provided their customers with 3.06 billion RUR worth of loans, those based in Novosibirsk Region issued 3.05 billion RUR worth of loans, those based in Chelyabinsk issued 2.7 billion RUR worth of loans.

According to the Bank of Russia, 82.3 billion RUR worth of loans were issued in the first quarter of 2007 altogether, which exceeds the figures for January-June 2006 by 4%.

SKB-Bank’s Lending Director Anna Samuilova believes the banks located in the above-mentioned regions did so well in terms of offering mortgages to their customers because the housing is quite pricy there. ‘A long-term practice of mortgage-giving is another factor. Sverdlovsk Region’s first mortgage, for example, was issued as early as 2003. Then, there are bank offices specifically designated for processing mortgage loans where a borrower can get advice on or from insurers, assessors, realtors, and so on as well as have his or her loan papers handed over to them within the course of an hour. SKB-Bank has recently set up such offices in Yekaterinburg and Chelyabinsk,’ Ms Samuilova says.