Wed, 1 October
15.1 C
Yerevan
USD: 382.52 RUB: 4.64 EUR: 449.38 GEL: 140.57 GBP: 514.03

Expert: Armenia’s mortgage market developing in due course

YEREVAN, April 6. /ARKA/. Armenia’s mortgage market is developing in due course, Mher Yedigaryan, the director of National Mortgage Company universal credit organization, said in an interview with ARKA News Agency.

“Now the mortgage market is developing properly, but it doesn’t mean that impacts of the global crisis are overcome fully,” he said adding that things in any separate area, such as mortgage lending, are closely connected with economic developments.

Yedigaryan said that the National Mortgage Company started functioning amid lowering supply and demand for mortgage loans.
This fall in demand and supply was due to volatility on real estate market.

Yedigaryan said that the company’ efforts had produced certain results – the situation has been improved a great deal.

“It became possible to stabilize and spur mortgage lending by offering money-lending organizations long-term and relatively cheap money,” he said in his interview.

Yedigaryan said that the National Mortgage Company cooperates with 12 banks and three credit organizations and intends to enlarge this number soon.

The company’s authorized capital amounts to AMD 5 billion and is planned to be enlarged in 2010.

“The government allocated AMD 12 billion I 2009 for mortgage market development. This money is being spent through the National Mortgage Company by refinancing of mortgage loans extended to the country’s population,” Yedigaryan said. –0–

spot_img

POPULAR

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

LATEST NEWS

spot_imgspot_imgspot_img