Since the beginning of 2010 RRDB has issued four times more loans to individuals than in the same period in 2009

Moscow, 6 August. The Russian Regional Development Bank has granted approximately 3,500 loans to individuals in the first seven months of 2010. This is almost 4 times more than in the same period of last year. The volume of loans granted to individuals has increased by almost 80% in comparison with the same period of last year and amounts to over 754 million rubles. The total loan portfolio for individuals amounted to over 2.926 billion rubles as of 1st August.

Olga Akupenko, director of Retail Business Department, noted: “The Bank uses a balanced approach to select borrowers and their loans. We take into account our customers’ income when determining the loan amount and monthly payments in order to avoid the risk of borrowers not paying their monthly payments and thus contracting arrears.”

Currently, we are renewing our product “Overdraft Credit Card” from our line of credit facilities for individuals. These changes have affected the calculation of maximum limit on overdraft, which according to the new rules may be set higher. Loan processing itself is easier and faster. A new set of documents in the form of an offer, which includes the overdraft rules and an overdraft application, is used to grant loans. Customers only need to sign their overdraft applications. The rules and tariffs are available on the website and in the offices of the Bank. The time required for the Bank to review the applications and set a loan limit has also been decreased.