YEREVAN, February 6. /ARKA/. The National Mortgage Company (NMC) refinanced 4,313 mortgage loans worth a total of 34.4 billion drams as of February 5, 2014, the company’s press office reported.

Of them, 2,739 loans worth 26.3 billion drams were refinanced in Yerevan alone, according to the report.
A total of 26.9 billion drams was lent for buying homes in 2,782 loans, and 1,531 loans for a total of 7.5bln drams were extended for repair and construction.

As of the end of December 2013, the company’s assets amounted to 29.9 billion drams; total capital was 10.7 billion drams and retained income 1.4 billion drams.

The company implemented various mortgage market development programs as part of its mission. In particular, it used government funds to implement a mortgage market financing program. In July 2011, the NMC started, together with German KfW Entwicklungsbank, a program on stable development of home financing in Armenia.

On December 17, 2013, the NMC signed a loan agreement with the French Development Agency for $13.7 million for improving home energy efficiency and microfinancing.

National Mortgage Company is a refinancing credit organization registered and licensed by Armenia’s Central Bank, the sole founder and stockholder of the company, in 2011. ($1-410.15drams).  –0--