ArmInfo.ARARATBANK launches "Pre-New Year" campaign - cheap dollar mortgage loans, without paying for application analysis, without a one-time service fee, without paying for real estate valuation, notarial and cadastral valuations. As ArmInfo was told by the press service of the Bank, the campaign will be valid until December 25 of this year.
As part of the campaign, the annual interest rate on these loans is set at 8.5% (the actual rate is maximum 8.98%), the repayment period is up to 15 years. The offer applies both to new loans and to mortgage loans transferred from other banks and credit companies.
According to the Financial Ratings of Banks of Armenia prepared by ArmInfo as of October 1, 2018, by amount of mortgage loans ARARATBANK ranks among TOP-5-16.8 billion AMD ($ 34.8 million) with a y-o-y growth of 8.2%. In the total loan portfolio of the Bank, mortgage accounts for 13.5%, and in total mortgage loans in the market, the share of ARARATBANK exceeds 7%.
To recall, ARARATBANK OJSC has been operating since November 2005. Majority shareholders of ARARATBANK as of October 1, 2018 is the Flash company one of the largest oil traders in Armenia with a share of 72.73% in the capital, Barsegh Beglaryan (well-known entrepreneur, the head of Flash) 18.33%, Rural Impulse Fund II (part of the Belgian Incofin Investment Management - Incofin IM) - 8.58%.
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