The mortgage loan portfolio of SibAcademBank is now worth more than 5bn RUR. These impressive figures are the result of six months’ hard work. The bank is now offering mortgages in over 60 Russian cities and towns, and it is the mortgage lending that is going to become the bank’s top priority in 2007.

In addition, SibAcademBank has been stimulating the demand for mortgages through attracting foreign investments. It has recently signed a $15m agreement with the European Bank for Reconstruction and Development; this money is expected to be spent on mortgage loans, reports the bank’s press officer.