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BSTDB Supports Mortgage Financing in Armenia
The Financial
http://finchannel.com/news_flash/Banks/111671_BSTDB_Supports_Mortgage_Financing_in_Armeni a/
June 25 2012
Georgia
The FINANCIAL -- The Black Sea Trade and Development Bank signed a
USD 8 million loan agreement with the Ardshininvestbank for mortgage
financing in Armenia
According to The Black Sea Trade and Development Bank,
Ardshininvestbank will use the facility, carrying a tenor of seven
years, to provide residential mortgage loans to private individuals.
The BSTDB financing will support the Armenian Government's priority
to develop housing and mortgage markets in the country. Enhancing
Ardshininvestbank's mortgage lending capacity, the facility will
improve the availability of affordable long-term mortgage loans for
Armenia's population.
"We are pleased to extend our first mortgage finance facility in
cooperation with Ardshininvestbank in Armenia that will help people to
improve their living conditions" said Andrey Kondakov, BSTDB President
at the signing of the loan agreement.
"Mortgage lending is one of Ardshininvestbank's strategic priorities
and this loan facility will enable us to increase our portfolio
significantly in this segment. With a broad outreach through
our extensive branch network we are confident to have a fast and
successful implementation of the project" stated Mher Grigoryan,
Chairman of the Management Board of Ardshininvestbank.
From: Baghdasarian
The Financial
http://finchannel.com/news_flash/Banks/111671_BSTDB_Supports_Mortgage_Financing_in_Armeni a/
June 25 2012
Georgia
The FINANCIAL -- The Black Sea Trade and Development Bank signed a
USD 8 million loan agreement with the Ardshininvestbank for mortgage
financing in Armenia
According to The Black Sea Trade and Development Bank,
Ardshininvestbank will use the facility, carrying a tenor of seven
years, to provide residential mortgage loans to private individuals.
The BSTDB financing will support the Armenian Government's priority
to develop housing and mortgage markets in the country. Enhancing
Ardshininvestbank's mortgage lending capacity, the facility will
improve the availability of affordable long-term mortgage loans for
Armenia's population.
"We are pleased to extend our first mortgage finance facility in
cooperation with Ardshininvestbank in Armenia that will help people to
improve their living conditions" said Andrey Kondakov, BSTDB President
at the signing of the loan agreement.
"Mortgage lending is one of Ardshininvestbank's strategic priorities
and this loan facility will enable us to increase our portfolio
significantly in this segment. With a broad outreach through
our extensive branch network we are confident to have a fast and
successful implementation of the project" stated Mher Grigoryan,
Chairman of the Management Board of Ardshininvestbank.
From: Baghdasarian