Wednesday, August 8 2018 11:15
Alina Hovhannisyan

Ardshinbank reduced rates of mortgage loans under program "Affordable  housing for young people"

Ardshinbank reduced rates of mortgage loans under program "Affordable  housing for young people"

ArmInfo.Ardshinbank reduced interest rates of mortgage loans under the program "Affordable Housing for Young People". The press service of the bank reports.

Under the new conditions, loans under the Affordable Housing for  Young Program will be provided at a rate of 7.35% per annum (the  effective interest rate starts at 8.23%). The maximum size of the  loan is set at 17.5 million drams, maturity is up to 15 years,  prepayment is from 10%.

In particular, interest rates on housing purchased in Yerevan are  subsidized by 2%, and in regions - by 4%.

To obtain a loan, you must apply to any of the bank's branches,  present a document confirming the identity and social card.

More detailed information about the program can be obtained on the  official website of the bank, by clicking on the link  https://goo.gl/kPPYR9, or by calling the 24-hour help desk at (012)  222222.

The other day Ardshinbank lowered interest rates on mortgage loans  refinanced by the National Mortgage Company for purchase / repair /  construction.

According to the Financial Rating of Armenian Banks as of April 1,  2018, prepared by IC ArmInfo, Ardshinbank maintains leadership in the  mortgage lending market - 31.4 billion drams ($ 65.4 million) or 14,%  in total mortgage loans of the banking system. In the loan portfolio  of Ardshinbank, the share of mortgage in the annual section remained  at the level of 8%. The absolute value of mortgage loans increased by  13.4% year-on-year. Ardshinbank is included in the TOP-3 by the main  balance indicators: total capital - 66.7 billion drams (annual growth  of 9.8%), assets - 557.8 billion drams (annual growth of 4.6%),  credit investments - 412.3 billion drams (annual growth of 14.1%). In  the first quarter of 2018, Ardshinbank completed with a net profit of  2.2 billion drams, having increased this indicator by 76.3% per  annum.

To note, Ardshinbank was founded in 2003. The majority shareholders  of Ardshinbank are Arins Group LLC (renamed OOO Center for Business  Investments) on January 1, 2018 with a stake of 67.97% and CJSC  Industrial and Financial Corporation REGION - 29.52%. Ardshinbank is  the second largest bank in Armenia, having one of the largest branch  networks, consisting of 64 divisions. Ardshinbank is the only private  institution in Armenia that has been assigned ratings of two  international rating agencies (Moody's and Fitch) equal to Armenia's  country rating.  

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