GORODSKOY IPOTECHNY BANK (City Mortgage Bank; Moscow), one of the leaders of the Russian mortgage market, has officially announced the opening of representative offices in three cities: Yekaterinburg, Rostov-on-Don, and Ufa. With the three new offices, GIB will be represented in nine regions of
the country and by year-end in twelve. As part of its push into regional mortgage markets, GIB also announced a new rouble-denominated mortgage program, which the bank will deploy in all regions of presence.
Source: GORODSKOY IPOTECHNY BANK PRESS SERVICE, May 17, 2006
