YEREVAN, September 28. /ARKA/. VTB Bank (Armenia) acted as the financial partner of the first real estate exhibition Build Armenia 2021. The event was attended by 32 real estate developer companies which presented all formats of residential and commercial real estate available in the primary market, the press service of the bank reported.
It said the exhibition brought together the country’s leading construction companies and potential buyers of real estate. Guests could choose the object they liked and get advice from specialists. Members of the Armenian government and leaders of the Armenian Association of Developers took part in the event.
VTB Bank (Armenia) presented at the event a line of mortgage products: a loan for the purchase of real estate with an advance payment of 3% and an annual interest rate of 3.5% as well as loans for the purchase of parking spaces and home repairs.
Representatives of construction companies could find out the bank’s proposal for project financing: corporate loans for developers, including with the use of an escrow mechanism.
“Mortgage lending is one of the priority areas of VTB Bank (Armenia). Focusing on the needs of our clients, we continue to expand our range of mortgage loans. We offer the possibility of purchasing real estate on special preferential terms and refinancing, thereby reducing the monthly financial burden for borrowers. Last year, the mortgage portfolio of all market players grew by 27%. Against this background, we increased our portfolio by more than one and half times. In 2021, we continue to increase mortgage indicators – in the first half of the year, the volume of housing loans of VTB Bank (Armenia) increased by more than 20%,” said Sofia Machkalyan, Deputy CEO – Chairperson of the Board of Directors of VTB Bank (Armenia) CJSC.
The activities of VTB Bank (Armenia) CJSC are regulated by the Central Bank of the Republic of Armenia. -0-
