Delta Credit sets up office in Yekaterinburg

A press briefing devoted to Delta Credit’s introducing its representation in Yekaterinburg took place on May 20, 2008.

Delta Credit is Russia’s first commercial bank that specializes in mortgage lending. The bank has been offering its mortgages to Russian customers since 1998; the company became an independent banking entity after acquiring JPMorgan’s Moscow branch in 2001.

Delta Credit offers mortgage loans on both existing and new homes market in Moscow, Saint Petersburg, Nizhniy Novgorod, Samara, Tolyatti, Novosibirsk, Chelyabinsk, Yekaterinburg and their vicinities through its own offices. The other parts of Russia are serviced through the bank’s partners.

‘We are interested in Yekaterinburg because, firstly, this is the country’s fourth largest city in terms of the number of people living here. Secondly, the population’s income is high enough. Thirdly, Yekaterinburg is Russia’s 6th most active city in terms of mortgage loans issued by banks. In addition, the average dweller’s salary went up 29% in 2007, while the birth rate tripled,’ says Irina Postnikova, Delta Credit’s Yekaterinburg branch’s Regional Director.

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