YEREVAN, October 19. /ARKA/. Armenia-based Converse Bank, a leader in mortgage lending, said it has revised downward the terms of lending under the "Affordable Housing for Young Families" program having also extended the maturity terms.

"Conversbank attaches importance to creating the best conditions for lending to young families, introducing affordable and profitable products," said the head of the credit department of the bank Taron Hovsepyan.

In particular, within the framework of the program, the bank offers mortgage lending to the tune of up to 17.5 million drams, with a maturity of 20 years and interest rate of 8.5%. The rate is applied throughout Armenia, with a subsidized rate of 2% in Yerevan and 4% beyond it.

In addition, Converse Bank revised the financing rates of the "National Mortgage Company", reducing them from 13% to 12% per annum.

Converse Bank is owned by Advanced Global Investments LLC (Argentina) with a share of 80.94%; the Armenian Church owns 5% and HayPost Trust Management B.V. Company - 14.06%. -0-