YEREVAN, October 8. / ARKA /. Armenia’s National Mortgage Company (NMC) said today that as of September 30, 2014 it had refinanced a total of 4,939 mortgage loans in the amount of 39.9 billion drams, including 3,170 loans in the capital city Yerevan worth 30.7 billion drams.
The NMC said also that of all refinanced loans some 3,281 worth 31.7 billion drams had been allocated for the purchase of housing, while 1,658 loans in the amount of 8.2 billion drams – for repair and construction of homes.
As of September 30, 2014 the company’s assets stood at 34.9 billion drams, its total capital –at 11.2 billion drams and the retained earnings – at 1.9 billion drams.
As part of its mission, the NMC has implemented a variety of programs designed for the development of the local mortgage market. One of its projects was implemented due to a government assistance.
In July 2011, together with the German bank KfW Entwicklungsbank it started a project designed for the development of stable housing financing market in Armenia.
On December 17, 2013 the company signed a loan agreement with the French Development Agency worth $13.7 million to improve the energy efficiency of homes and micro lending.
The National Mortgage Company is a refinancing credit organization registered and licensed by Armenia’s Central Bank, which is the sole founder and stockholder of the company, in 2011 ($ 1 – 409.46 drams). -0
