Moscow’s SOBINBANK has taken over 50.6% of the RUSSIAN MORTGAGE BANK, thus increasing its share to 100%. Official reports say both banks have finalized preliminary operations to launch the mortgage credit refinancing program. Both banks will offer a single line of mortgage products that will allow them to create a uniform credit portfolio, said SOBINBANK Deputy CEO Igor Duda.
Source: BANKI.RU, November 28, 2006
