ArmInfo.As a leader in Armenia's mortgage lending market, Ameriabank is represented by a separate pavilion at the specialized exhibition for the real estate and construction sector, Toon EXPO.
Visitors to the Ameriabank pavilion will have the opportunity to not only learn about the bank's innovative platform - the MyHome.am ecosystem ( https://myhome.am/home ), but l also find a preferred mortgage lending option tailored to their needs, and capabilities. This applies whether the housing is located in Yerevan, the regions or abroad, and whether the buyer is a citizen of Armenia or a representative of the Diaspora. At the pavilion, interested individuals can apply for a mortgage loan on the spot and learn about the preferential lending terms.
In particular, on the sidelines of the exhibition, Liana Agayan, head of the for mortgage lending product team at Ameriabank, noted that the developers partnered with the MyHome platform to create special mortgage offers for exhibition visitors. "This will allow them to buy their dream home at a more affordable price and lower interest rate of 12.5% instead of the usual 13%," she emphasized.
MyHome product manager Tigran Grigoryan stated that the goal from the first day of the product's creation was to make services in the real estate market more flexible and convenient. "By involving almost all the main players in this market, we offer a simplified and flexible process for buying and selling, searching for real estate and applying for a mortgage loan," he said. Grigoryan noted that all processes take place online and the decision on approval or refusal is made in a matter of minutes. He also reported that today the platform presents over 130 projects from 70 developers in the primary real estate market and over 1000 offers in the secondary market from leading real estate agencies. Additionally, he noted that over 50% of Ameriabank's mortgage loans are issued through the MyHome platform.
Ameriabank's Director of Long-Term Banking Services Vahram Gevorgyan noted that the bank will soon introduce an automated mortgage lending system for the secondary real estate market. "By becoming a client of Ameriabank, including by applying for a loan on the MyHome platform, clients have the opportunity to participate in a large draw, where they could win an apartment in Yerevan," Gevorgyan reported. He also mentioned that on the first day of the exhibition, Ameriabank had already approved several mortgage loans.
In an interview with an ArmInfo correspondent, Gevorgyan noted that MyHome is very popular and in high demand today. In this regard, the head of Ameriabank's long-term banking services reported that the platform receives 250 thousand views monthly. According to Gevorgyan, the advantage of this ecosystem is not only that you can apply for a mortgage loan in a matter of minutes, but also it eliminates the need to study the real estate market, visit construction sites, offices, etc. The client can access all the necessary information on the MyHome platform, including information related to their creditworthiness, etc.
Note that the Toon EXPO exhibition is taking place in Yerevan from October 25 to 27 at the Meridian Exhibition Center. According to the Financial Rating of Armenian Banks as of June 30, 2024, prepared by ArmInfo Investment Company, Ameriabank holds the lead in terms of lending volume - $2.9 billion. Moreover, the Bank holds the lead in corporate lending ($1.8 billion, with an annual growth of 39%), while also securing the first position in retail lending ($1.02 billion, with an annual growth of 27%). The Bank leads in mortgage loans, with a total of $668.5 million and an annual growth of this portfolio by 25-30%. Ameriabank covers 22% of the total volume of mortgage loans in the banking market. According to the results of the first half of the year, the Bank achieved a net profit of $70.3 million, increasing it by 26% over the year, and almost 6 times over the past 4 years
