06.09.2007

The Bank and the Housing Committee of Saint Petersburg signed an agreement on cooperation

Bank “Saint Petersburg” and the Housing Committee of Saint Petersburg concluded an agreement on cooperation in implementation of the target program of Saint Petersburg “Development of the long-term mortgage lending in Saint Petersburg during 2002-2012” as well as an agreement on cooperation in implementation of the subprogram “Provision of the young families with the accommodation” of the federal target program “Housing” during 2002-2012 approved by the decree of the Russian Government of 17.09.2001 No. 675 and the target program of Saint Petersburg “Affordable accommodation to the youth” approved by the Law of Saint Petersburg of 26.04.2001 No. 315-45.

The agreements were signed by the Chairman of the Housing Committee Y.H. Lukmanov and Chairman of the Management Board of Bank “Saint Petersburg A.V. Savelyev.

In accordance with the said agreements the Bank undertakes to issue the purposeful mortgage loans to the citizens of the Russian Federation, residing in Saint Petersburg, acknowledged as the people needing to improve their accommodation and entitled to receive the subsidies from the budget to compensate in part the cost of the accommodation within the frame of the afore-mentioned programs.

Bank “Saint Petersburg has accumulated the good experience in implementation of the mortgage programs. In the last six months the Bank has improved significantly their conditions, having made them more flexible. It has opened a mortgage center on Ostovskogo Square 7, which serves and consults the citizens seven days a week based on the principle of “one window”.

“Bank “Saint Petersburg” cooperates actively with the Administration of our city, taking part in financing of many local projects. Therefore we consider the agreements concluded with the Housing Committee today as a perfect opportunity not only to assist in development of the significant programs of long-term mortgage lending but also as another step in further expansion of the Bank’s services and attraction of new customers, Chairman of Bank “Saint Petersburg” Alexander Savelyev said.