YEREVAN, January 30. /ARKA/. Ameriabank built up its mortgage lending by 25% in 2012, Gevorg Tarumyan, the bank’s financial director, said today at a news conference.
Its outstanding mortgage portfolio amounted to AMD 9.2 billion in the fourth quarter of 2012 against AMD 7.4 billion in 2011.
“Transactions effected at secondary, not primary mortgage market dominate the portfolio,” Tarumyan said. “And this as a positive trend, since housing acquired at the primary market is considered as investment, while the secondary market housing is acquired for directly for living there.”
He said mortgage lending is rapidly growing in Armenia’s provinces.
“The size of a mortgage loan ranges between $20,000 and $100,000 in provinces and between $100,000 and $180,000 in Yerevan,” he added.
According to the State Real Estate Cadastre of Armenia, one square meter cost AMD 264,200 drams, on average, in Yerevan in November 2012. Average price for one square meter in apartment blocks in the country’s provinces rose 3.5% in Jan-Nov 2012, compared with September 2011.
Ameriabank is a universal bank that provides investment, corporate and retail banking services in packages. Ameriabank is the first investment bank in Armenia. It started providing a wide range of innovative banking services in 2007. ($1 – AMD 407.75). -0-