Tuesday, June 26 2012 14:29

By late 2012 Ardshininvestbank to double portfolio of mortgage loans


ArmInfo. By late 2012 Ardshininvestbank is going at least to double the portfolio of mortgage loans, Chairman of Board of Ardshininvestbank, Mher Grigoryan, told ArmInfo. He said that the portfolio will be replenished by both the loans from international financial organizations and the internal funds.

Despite the post-crisis phenomena, there is a real demand for mortgage loans in Armenia, and the situation in the mortgage market of the country is quite stable, he said.

According to the Ranking of Banks of Armenia by the Agency of Rating Marketing Information (ArmInfo), Ardshininvestbank is among the top ten leading banks by its loan portfolio (93.2 bln AMD, about 58% of the Bank's assets, 26.4% y-o-y growth). The share of mortgages in the loan portfolio is about 4% or 3.3 bln AMD (44% y-o-y growth).

The majority shareholders of the Bank are Center for Business Investments LLC with an 87.23% stake and the IFC with a 10% stake. The bank has a big network of 55 branches covering Yerevan, all regions and the Nagorno-Karabakh Republic. The Bank also has a representation in Paris.
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