#13
From: <USRIS@ksg.harvard.edu>
Subject: Russia's Retail Banking: Interview Double Feature on Harvard's Symposium Website
Date: Mon, 21 Jul 2003

In their interviews to the U.S.-Russian Investment Symposium, James Cook, Senior Vice President of Delta Capital Management and Head of Delta Financial Group, and Andrei Suchkov, Vice President for Mortgage and Consumer Lending at Vneshtorgbank, share their insights about Russia's retail banking industry. To read the interviews, please go to http://www.usris.org.

Retail banking is booming in Russia, and Russian consumers are for the first time discovering the convenience of buying homes, cars and vacations on credit.

Having first arrived in Russia nearly ten years ago, Delta Capital has become one of the pioneers in mortgage lending in the country, actively working with the Russian government to improve the legal system for investing and lending, and developing an image of an innovative company set on altering the traditional image of a banker. (James Cook: "Painting the Bank Orange," http://www.usris.org/index.v3page?p=32494)

Vneshtorgbank, a state-owned bank and the largest in Russia in terms of capital, is working with the Russian government to develop a large-scale mortgage program designed for individuals and families of all income levels. (Andrei Suchkov: "Reconciling Commercial and Socio-Economic Priorities," http://www.usris.org/index.v3page?p=32495)

For more information, please contact:

Izabella Tabarovsky
Communications Director
U.S.-Russian Investment Symposium
Kennedy School of Government
Harvard University
www.usris.org
617-496-3106