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Business news, 09.12.2005 15:49

Mortgage Ambition

finance_kit Investment bank Kit Finance plans to issue $500 million to $600 million worth of mortgages in 2006, a bank representative, Alexander Vinokurov, said Thursday. According to him, next year the bank will issue 20,000 credits worth $25,000 to $30,000 each.

“This is what we would like to give out independently. It’s possible it will be too ambitious,” Vinokurov said, adding that the bank could issue mortgage bonds, create a mortgage investment fund, and also sell some of its mortgages to other banks.

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