Monday, July 11 2011 14:35

By late 2011 Ardshininvestbank intends to increase mortgage portfolio by 90%


ArmInfo. Ardshininvestbank is going to increase its mortgage portfolio by 90% to 4 bln AMD by late 2011, Acting Chairman of Board of Ardshininvestbank Karapet Gevorgyan said in his interview with ArmInfo.

He added that since the beginning of 2011 the bank has already increased the mortgage portfolio by 35% to 2.8 bln AMD as of June 1, which makes up 9.2% of the portfolio of retail loans of the bank.

Gevorgyan thinks that positive dynamics of development has recently been observed in the Armenian market of mortgage crediting. "It is obvious that the built residential buildings should be sold, and most of them - at the expense of borrowed funds", he said. At the same time, as a rule, over Jan-March, as well as over June-August the activeness in the mortgage market declines.
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