YEREVAN, February 22. \/ARKA\/. Armenian Development Bank is going to offer soon a new mortgage lending instrument to the market, Karen Sargsyan, chairman of the bank\u2019s board, said Wednesday in Novosti International Press Center.<\/p>\n
Explaining the essence of the new instrument, he said that clients will get an opportunity to formalize their mortgage loans without prepaying 30% of the amount of the loan.<\/p>\n
\u201cVery often people can\u2019t afford to pay 30% in advance to get 70% of the loan,\u201d he said. \u201cThat is why we have worked out an instrument that makes it possible to borrow money without any prepayment.\u201d<\/p>\n
Such loans will be extended for 10 years.<\/p>\n
Armenian Development Bank started functioning in 1991. The bank has 75 shareholders, 40% of which are nonresidents. Residents hold 52% of the bank\u2019s capital, and 48% belong to nonresidents.<\/p>\n
There are 13 legal entities among the shareholders. Toe of these legal entities are international organizations.<\/p>\n
The bank has shareholders in the United States, Russia, France, Germany, Italy, Canada, Spain, Sweden, Australia and Brazil. -0—<\/p>\n","protected":false},"excerpt":{"rendered":"
Armenian development bank intends to offer new mortgage lending instrument soon.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12699,13129,505],"class_list":["post-33820","post","type-post","status-publish","format-standard","category-banks-en-en","category-news","tag-armenia-2","tag-armenian-development-bank","tag-mortgage-lending-instrument","tag-505"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t