Press releases | Archive 2006
RBC acquires blocking stake in FOSBOURNE HOME
Moscow, April 18, 2006. - RBC Information Systems (RTS, MICEX: RBCI), the leader on Russia's business information market, has reached an agreement with the FOSBOURNE HOME company, the first professional mortgage broker in Russia, to buy a blocking stake of 26% in FOSBOURNE HOME for $1.56 million. The companies agreed to complete the deal within a month, following a legal and auditing due diligence of FOSBOURNE HOME.FOSBOURNE HOME plans to provide brokerage services for $240 million worth of loans in 2006, $700 million in 2007 and 2.05 billion in 2008. In three years, the company hopes to be the leading broker on the Russian mortgage and remortgage market. To achieve this goal, FOSBOURNE HOME is consistently promoting new loan products. In the last two months alone, it has offered such new mortgage programs as "Real Estate for Loyal Manager," "Mortgage Without Down-Payment," and "Gift for Newlyweds."
"Our company has set itself the goal of making the mortgage market more progressive and affordable for various social groups of the population, which is in line with the objectives of the "Affordable and Comfortable Housing for Russian Citizens" national project. Naturally, this involves the use of effective promotion methods, that is why we have chosen RBC, a number one company on the Russia's business information market, as our partner," said Yevgeny Bernshtam, Chairman of the Board of Directors of FOSBOURNE HOME.
"In the West, most mortgage operations are made through mortgage brokers. In Russia, this is a new but very promising and fast-growing business. We will be happy to offer our target audience and clients a high quality product in the area of mortgage support," RBC General Director Yury Rovensky said.
FOSBOURNE HOME (www.fhome.ru) is Russia's first professional mortgage broker. Programs offered by the company cover a full range of mortgage support services, from choosing a loan and real estate property to final settlement. The company is a member of the Russian and Moscow Consumer Rights Protection Funds, Rossiya Association of Regional Banks, the Russian Union of Industrialists and Entrepreneurs, the Association of Builders of Russia, the Russian Guild of Realtors, the Moscow Chamber of Commerce and Industry, and the National Association of Mortgage Managers.
RBC Information Systems has been operating in the media and IT sectors since 1993. RBC, represented in the media sector by an information agency, a business TV channel, business and general online resources and the RBC business magazine, is the leader on the Russian business information market, offering its audience the most comprehensive financial and economic data on Russia, the CIS and West European countries. RBC TV is the only Russian 24-hour business channel broadcasting in all major Russian regions with the audience of more than 5 million people. RBC's main financial portal, www.rbc.ru, attracts the largest number of users of all the Russian business mass media, with the daily audience exceeding 450,000 unique visitors. The total daily audience of all RBC's online resources is over 1.35 million people. RBC hosts annual business awards such as 'Company of the Year', 'Person of the Year', and 'The best brand/EFFIE'. RBC provides advertising services for more than 2,300 Russian and foreign companies operating in various industries, ranging from the insurance and financial sectors to metallurgy and the oil and gas industry.
Additionally, RBC provides tailored and off-the-shelf IT solutions for various businesses, develops software for government agencies and offers offshore programming, system integration and IT consulting services. According to the iOne rating, RBC was ranked among top ten software developers in Russia in 2005.