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Sunday, July 23, 2017

High activity in mortgage market leads to award for PSB

Promsvyazbank (PSB) was awarded the status of "Expert RA," given to the 20 banks with the largest mortgage loan portfolios, the bank announced Thursday.

PSB saw a dramatic increase in this area, with their mortgage portfolio increasing by 150 percent in 2014 so far. The bank has a $300 million total to show for their increased mortgage activity. The average mortgage is currently $17.74 million.

"We consider the mortgage lending, primarily as a tool that allows you to set the strategic long-term relationships with customers," head of Retail Business for PSB Leonid Katchalov said. "In 2014, PSB has expanded line of mortgage products, and launched a program of lending suburban real estate. In addition, the bank has significantly increased the list of accredited developers and real estate companies. We constantly develop cooperation with leading real estate companies, has established itself as a reliable partner."

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