YEREVAN, April 25. / ARKA /. The National Mortgage Company of Armenia said it has refinanced as of April 23 some 4,482 mortgage loans worth 35.9 billion drams, of which 2,850 loans worth 27.5 billion drams were refinanced in Yerevan, and 1,632 loans worth 8.4 billion drams – outside the capital city.
It said also that 2,922 loans worth 28.2 billion drams were allocated for home purchase and 1,560 loans in the amount of 7.7 billion drams – for home repair and construction.
As of March 31, 2014 the company’s assets stood at 31.6 billion drams, the total capital – at 10.8 billion drams, and retained earnings – at 1.6 billion drams.
The company cooperates both with the government to raise funds and international institutions, like German bank KfW Entwicklungsbank, with which it is conducting a joint lending program “Development of Stable Housing Financing Market in Armenia.”
In 2013 December the company signed a $13.7 million loan agreement with the French Development Agency to improve the energy efficiency of houses and provide also micro credits.
The company first placed its bonds in 2011 and since then it has had 10 issues totaling about 8.7 billion drams.
The National Mortgage Company is a refinancing credit organization registered and licensed by Armenia’s Central Bank, the sole founder and stockholder of the company. -0-
