10 March 2004 04:22
DeltaCredit to keep raising foreign loans in 2004
MOSCOW. March 10 (Interfax) - DeltaCredit Bank, which specializes in mortgage financing, will continue to raise
foreign capital in 2004, Kirill Dmitriev, the vice president of Delta Capital Management, which manages the U.S.-Russia
Investment Fund, the owner of the bank, told Interfax.
Delta Capital will invest in the bank's development, but DeltaCredit can raise capital without the
shareholder's participation, he said.
"The bank's current capital, according to Central Bank regulations, enables it to raise rather a large
volume of funds, and the bank will use this opportunity. We have good partners - the IFC, EBRD and various foreign
commercial banks, which are ready to offer DeltaCredit credit lines," Dmitriev said.
Financial structures have shown interest in becoming strategic investors, but first the bank needs to carry out
securitization of its mortgage portfolio. "The bank will then look much more appealing," he said. DeltaCredit
will be one of the first banks to carry out securitization. [RU ASIA EUROPE EEU EMRG LOA BNK US WB WEU] me <>
[Interfax] |
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