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“GPB-Mortgage” (Joint-Stock Company)

“GPB-Mortgage” (JSC)  was established in 1991.  The bank joined GPB group in 2004 and under the initiative of Gazprombank it was restructured and reoriented towards offering services in mortgage lending and refinancing of the mortgage and housing credits.
Gradual increase of the Bank capital by the main shareholder and capitalization of the profit allowed an increase of the shareholders funds from 730 RUR mln at January 1, 2006 to 3700 RUR mln at January 1, 2009.
In the middle of 2005 the Bank launched its own program of refinancing mortgage and housing credits. The Bank set up a network of corporate regional operators to carry out expert evaluation, issue, refinance and service of  mortgage and housing credits in the majority of the Russian regions.
In June 2007 “GPB-Mortgage” (JSC)  became the first Russian bank to successfully secure the portfolio of Rouble mortgage loans in the internal and the international markets. This was the first step to implement a market mechanism of attracting long-term resources from international investors to develop Russian mortgage market.
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