OREANDA-NEWS. April 18, 2008. Retail Portfolio of the Bank of Moscow Exceeded 80 Billion Rubles. Personal credits increased in volume and reached 11 billion rubles in absolute figures as of the beginning of this year.

From the beginning of this year, the segment of loans for immediate needs, credit cards and loans on mortgage show rapid development. The rate of growth of the retail portfolio of the Bank of Moscow are higher than in the bank sector of economy in general.

Said Irina Nikitenko, Vice President of the Bank of Moscow: “Retail business is one of the key business areas of the Bank of Moscow, the Bank approved itself as an innovator long ago by offering the most attractive mortgage rates in foreign currency. The Bank launched the Time of Discoveries campaign to offer credit cards with record-breaking low interest rates 17% of the annual income as expressed in rubles, and 11% of the annual income in USD on retention of a 55 day grace period.

Irina Nikitenko added: “Note that the Time of Discoveries campaign was purposely developed in advance of the summer leaves. If a client registers a card in April 2008, for instance, he/she will be able to use credit at a reduced rate both to pay for the summer vacation and to get the children ready for a new school year”.