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By The End Of This Year Unibank Will Redouble Its Mortgage Credit Po

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  • By The End Of This Year Unibank Will Redouble Its Mortgage Credit Po

    BY THE END OF THIS YEAR UNIBANK WILL REDOUBLE ITS MORTGAGE CREDIT PORTFOLIO TO $60MLN

    arminfo
    2008-04-30 19:41:00

    ArmInfo. By the end of this year Unibank is planning to redouble
    its mortgage credit portfolio to $60mln, says the press service
    of Unibank. As of Apr 1 2008 the mortgage credit portfolio of the
    bank totaled 8.9bln AMD (over $29mln). Unibank was the first bank in
    Armenia to offer mortgage credit without prepayment. As of Apr 1 2008
    the portfolio of car credits totaled 1.7bln AMD ($5.5mln) - 3 times
    more than a year before. Earlier the director for mortgage crediting
    of Unibank Tigran Gevorgyan told ArmInfo that the bank issued mortrage
    credits in both Yerevan and the regions. In late 2006 the share of the
    regions in the total portfolio was just %12, in 2007 it was 22%, by the
    end of this year it will be even bigger. According to the ranking of
    commercial banks of Armenia prepared by the Agency of Rating marketing
    Information (ArmInfo), as of Jan 1 2008 Unibank had the second biggest
    mortgage credit portfolio in Armenia - 9.1bln AMD ($29.9mln).
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