BY THE END OF THIS YEAR UNIBANK WILL REDOUBLE ITS MORTGAGE CREDIT PORTFOLIO TO $60MLN

arminfo
2008-04-30 19:41:00

ArmInfo. By the end of this year Unibank is planning to redouble
its mortgage credit portfolio to $60mln, says the press service
of Unibank. As of Apr 1 2008 the mortgage credit portfolio of the
bank totaled 8.9bln AMD (over $29mln). Unibank was the first bank in
Armenia to offer mortgage credit without prepayment. As of Apr 1 2008
the portfolio of car credits totaled 1.7bln AMD ($5.5mln) – 3 times
more than a year before. Earlier the director for mortgage crediting
of Unibank Tigran Gevorgyan told ArmInfo that the bank issued mortrage
credits in both Yerevan and the regions. In late 2006 the share of the
regions in the total portfolio was just %12, in 2007 it was 22%, by the
end of this year it will be even bigger. According to the ranking of
commercial banks of Armenia prepared by the Agency of Rating marketing
Information (ArmInfo), as of Jan 1 2008 Unibank had the second biggest
mortgage credit portfolio in Armenia – 9.1bln AMD ($29.9mln).