OREANDA-NEWS. March 18, 2008. The Stavropol branch of the Bank of Moscow has received an award in the financial sphere "Financial elite of the South of Russia" in the category "Best Mortgage Bank".

The Stavropol branch of the Bank of Moscow was designated by the Organising Committee, which included representatives of the administrations of the different regions of the Southern Federal Area, as "an enterprise making a weighty contribution to the economic development of the Southern Federal Area of the Russian Federation".

As of the beginning of March 2008, the overall mortgage credit portfolio of the Stavropol branch of the Bank of Moscow was worth 672.5 million roubles, a third of this sum consisting, moreover, of mortgages in Swiss Francs. Since 2006, the mortgage portfolio has grown by 183%.

"Designation of the Stavropol branch of the Bank of Moscow as the "Best Mortgage Bank in the South of Russia" is undoubtedly a pleasant and important event", says the Director of the Stavropol branch of OAO Bank of Moscow Ruslan Khuranov. "Yet, at the same time, it was to be expected. After all, this title is indicative of the Bank’s profitable mortgage programmes, as well as the thorough and conscientious work of the branch’s staff. We do not intend to rest on our laurels. This achievement prompts us to go for new achievements and victories."

The Bank of Moscow is today one of the leaders on the mortgage market in the Southern Federal Area, offering its customers various programmes. Bank of Moscow’s mortgages have gained popularity among the population thanks to their low interest rates (from 6%) and most flexible approach to determining the amount of the initial deposit for each customer.