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AMERICAN MORTGAGE CRISIS DOESN'T THREATEN ARMENIA
Economic News
January 10, 2008 Thursday
Yerevan. ">OREANDA-NEWS . January 10, 2008. According to Vardan Atayan,
Chairman of Executive Board of Unibank, mortgage crisis of the USA does
not threaten Armenian mortgage market. First of all, Armenian banks
arent integrated into the international financial market. Secondly,
the volume of mortgage credits in Armenia is very small. If in the
USA volume of mortgage credits is near 60-70% of GDP, in Armenia
credit portfolio of banks doesnt exceed 20%.
Mortgage market in Armenia continues to grow, and banks need more
monetary funds - financing of the international organizations is not
enough. For that sake, it is necessary to develop a secondary mortgage
market in Armenia.
From: Emil Lazarian | Ararat NewsPress
Economic News
January 10, 2008 Thursday
Yerevan. ">OREANDA-NEWS . January 10, 2008. According to Vardan Atayan,
Chairman of Executive Board of Unibank, mortgage crisis of the USA does
not threaten Armenian mortgage market. First of all, Armenian banks
arent integrated into the international financial market. Secondly,
the volume of mortgage credits in Armenia is very small. If in the
USA volume of mortgage credits is near 60-70% of GDP, in Armenia
credit portfolio of banks doesnt exceed 20%.
Mortgage market in Armenia continues to grow, and banks need more
monetary funds - financing of the international organizations is not
enough. For that sake, it is necessary to develop a secondary mortgage
market in Armenia.
From: Emil Lazarian | Ararat NewsPress