SOVFINTRADE, GAZPROMBANK’s subsidiary, has changed its name to the joint-stock bank GPB IPOTEKA. The bank has changed its name as it began forming its own regional operators’ chain to provide, refinance and serve home mortgage loans. The bank has already outlined a securitization scheme for mortgage assets and, in conjunction with GAZPROMBANK, optimized mechanisms for placing mortgage securities on the foreign and Russian financial markets.
Source: BANKI.RU, June 28, 2007
