Based on 2008 performance, assets held by City Mortgage Bank rocketed 95% to Rub 23.2 bln (Rub 12 bln as of January 1, 2008), the lending institution’s press service reported. Mortgage loans issued topped $1 bln, with $340 mln lent in 2008.
As of January 1, 2009 the lender’s balance sheet profit amounted to Rub 586.5 mln, leaping 60% y-o-y. The bank’s equity capital came to Rub 1.9 bln (Rub 1.4 bln in 2007).
According to the data from Banki.ru and news agency Interfax-CEA, as of July 1, 2008 net assets of City Mortgage Bank stood at Rub 12.78 bln (152nd place in Russia). City Mortgage Bank’s focus is to provide loans for the purchase of residential facilities. The lending institution is a member of the national deposit insurance system, but attracts no private deposits.
