News

reaffirming the reputation of an active participant in the mortgage market, Absolut Bank lowers the minimum interest rates on mortgage loans purchased by real estate.

now in the Bank's mortgage program may receive credit for buying an apartment in Moscow or the Moscow region, at a rate of 12% per annum in the euro and U.S. dollars (at the stage under construction - from 16% in euros and U.S. dollars).

Up to 16% per annum in U.S. dollars and euros (for construction up to 18% per annum in U.S. dollars and euro) lowered the minimum rate on loans for the purchase of country houses or cottages.

Reduced rates is a result of improving credit technology bank. Now the value of the interest rate on mortgage loans is determined in each case individually, as a result of the borrower's credit evaluation of the Bank. In determining the interest rate will take into account the size of the initial fee, an opportunity to provide official confirmation of the borrower's income and other indicators.

«Providing quality banking services to private clients from middle-and high-income countries is one of the most important activities of Absolut Bank. We are confident that this flexible approach to determining the interest rates on mortgages optimally meets the requirements of our customers, allowing the best to take into account the sources and structure of income », - noted the Chairman of the Board of Absolut Bank, Oleg Kapitonov.

Absolut Bank develops its own mortgage program in December 2003.

Since early 2004, Absolut Bank issued mortgage loans (10 years) and Lombard loans (up to 2 years) for a total of about 5.3 million U.S. dollars.

On 1 August 2004 a portfolio of mortgage loans and Lombard Bank was 10 million U.S. dollars.

Optimal conditions for the loan, fast and flexible approach to review applications, provide a high level of interest of customers to the Bank's mortgage loans.

Help Editor:

Absolut Bank is a private Russian bank

Bank was founded in 1993 and has a general license CBR number 2306.

main focus of Absolut Bank is financing and banking services to Russian commercial companies and private individuals.

Absolut Bank has ratings International rating agency Fitch Ratings: long-«B-», short-term «B», the forecast of long-term rating - a stable, individual rating «D», rating support «5», National BB + (rus).

According to the magazine «Profile» July 1, 2004, the Bank took a 7 on the reliability rating of major Russian banks.

Press Service Bank «Absolut Bank» (JSC)

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Fax: (095) 777-71-60

g . istratova @ absolutbank . ru