Sun, 3 August
36.1 C
Yerevan
USD: 383.84 RUB: 4.70 EUR: 442.91 GEL: 141.90 GBP: 512.96

Mortgage lending in 2019 February doubles

YEREVAN, March 19. /ARKA/. In February 2019 mortgage lending in Armenia doubled when compared to February 2018, Prime Minister Nikol Pashinyan said at a press conference on Tuesday.
He said in 2019 February the growth in government-financed mortgage lending programs was 145%.

‘Overall, the mortgage lending portfolio in the country grew by 30% and, according to experts, this is a huge increase,” said Pashinyan.

According to Pashinyan, this situation will have a positive impact on the lives of ordinary citizens, in particular, the demand for construction will grow in the near future to lead to the creation of new jobs not only in construction sector, but also in the production of building materials and services.

“This is an important indicator that will cut the unemployment rate,” said Pashinyan.

According to the Central Bank, mortgage lending by Armenian banks in December 2018 amounted to 255.2 billion drams (an increase of 22% compared with December 2017). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

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.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

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