YEREVAN, November 8. /ARKA/. VTB Bank (Armenia) was recognized as the winner of a tender announced for financing the construction of a residential and multifunctional complex Zeytun 3.
The bank offer includes a down payment that begins from 3%, 3.9% annual interest rate and the repayment period of to 30 years.

The construction of the complex is part of a government-designed program called Affordable Housing for Young Professionals, which is implemented with funding from the state-run Housing for the Young Families foundation.

‘Paying special attention to the development of the mortgage lending and realizing its importance as a significant factor in the economic and social development of the country, VTB Bank (Armenia) will issue loans not only under the best conditions, but also as soon as possible,’ the bank said in a press release..

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Armenian commercial banks provide mortgage loans to the population both from their own funds and as part of government-financed programs

Categories: Announces, Banks @en, General news, News, News of the hour, Ratings, Новости | Comments Off on Five Armenian banks account for more than half of mortgage lending

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Armenian commercial banks’ aggregate mortgage loan portfolio reached AMD 112.4 billion in late March after growing 1.9%, compared with late February

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Tags: amount, Armenia, COMMERCIAL BANKS, Mortgage lending

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