Washington-Capital’s Credit Portfolio Makes Around 600 Million Drams

WASHINGTON-CAPITAL’S CREDIT PORTFOLIO MAKES AROUND 600 MILLION DRAMS

ARKA
NOVEMBER 20, 2009
YEREVAN

YEREVAN, November 20, /ARKA/. Armen Khachian, director general of
Washington-Capital universal credit organization, said to ARKA the
company’s credit portfolio makes around 600 million Drams. He said
the company’s major direction is provision of mortgage credits.

The company was actively allocating mortgage credits in 2005 and 2006,
later the pace slowed down a little and then it joined a mortgage
program funded by German KfW bank in 2007.

In 2007 the company’s credit portfolio stood at 250 million Drams,
rising to 400 million in 2008 and to 600 million as of October 1, 2009.

Armen Khachian said Washington-Capital joined October 1 the National
Mortgage Company offering mortgage credits up to 20 million Drams at
12-14% interest rate repayable in 20 years.

The universal credit organization Washington-Capital was founded
in 2005.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS