Kreditmart (Russia) - Oct 2007

Aurora Russia has invested a further £10m into Kreditmart, a finance company that distributes mortgages, equity release loans and other consumer finance products. Kreditmart is wholly owned by Aurora Russia, which has now invested a total of £22.5m in the company.

Company

Kreditmart was established by Aurora Russia with a £12.5m investment in November 2006. The company opened its first loan shop in Moscow in March 2007 followed by its second loan shop in St. Petersburg in August. Two more branches in Omsk and Novosibirsk are scheduled to open in October. Leases have been signed on locations in Ekaterinburg and Rostov-on-Don, both to open by year-end. In addition, Kreditmart has opened five sales points in Moscow and the surrounding area within the real estate sales offices of Doki and Realmart. Kreditmart offers more than 400 loan products from 18 partner banks and to date has originated over $10m in mortgage loans. The company currently employs 80 mortgage professionals.

People

James Cook is the chairman of Kreditmart and director of Aurora Russia.

Sourced from: Deutsche unquote" 93 (Nov 2007)

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• Topics
• CEE
• Expansion
• Financials
• Russia