Tuesday, August 17 2010 15:59

"Washington Capital" increases its credit portfolio threefold


ArmInfo. Universal credit company "Washington Capital", which specializes in the mortgage lending, is going to increase its credit portfolio up to 1.4-1.5 bln drams by the end of the current year. This will make possible to ensure annual growth by 80% if compared with 2009, executive director of "Washington Capital" Armen Khachyan told Arminfo correspondent.

He also added that over t5he current year the company continues conducting the policy of active crediting, thanks to which the credit portfolio of the comp-any amounted to 1.2 bln drams as of 1 August 2010, having grown almost threefold if compared with the same period of 2009 and by 45% for January-July 2010.

Khachyan said that at present the company implements mortgage lending within the frames of the refinancing programmes by the German KfW bank, "National Mortgage Company" and "available house for young families". Touching on the lending conditions, he said that the company gives credit for house purchasing for 10-15 years with 13-14% of interest rate and 13-15% interest rate for house repair.

Universal credit company "Washington Capital" was founded in September 2005. Serzh Garibyan is the owner of the company.
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