VTB Bank (Armenia) to start extending mortgage loans to young scientists
18.03.2011,
19:54
VTB Bank (Armenia) will start extending privileged mortgage loans under the Available Housing for Young Scientists and Member of Creative Unions Program.
YEREVAN, March 18. /ARKA/. VTB Bank (Armenia) will start extending privileged mortgage loans under the Available Housing for Young Scientists and Member of Creative Unions Program.
On Friday, the Union of Yerevan State University’s Graduates and the VTB Bank (Armenia) signed a relevant cooperation agreement.
VTB Bank (Armenia) has won the tender announced by the Union of Yerevan State University’s Graduates.
“We are glad that our bank won this tender, since mortgage lending plays important part in the strategy of VTB Bank (Armenia),” Mher Grigoryan, deputy director general and chairman of the bank’s directorial board, said in Novosti International Press Center after signing the agreement.
He stressed that this program would be continued, and a new product would be formed in Armenia’s banking system.
Grigoryan also said that the bank attaches importance to the program of mortgage lending to young scientists, since scientists are solvent – they have stable source of income for 20 or 30 years.
“Taking it into account, we view scientists as good strategic clients,” he added.
Arsen Karamyan, the deputy minister of sports and youth issues and the president of the Union of Yerevan State University’s Graduates, reminded journalists that Armenian President Serzh Sargsyan has met young scientists in mid-2010 and discussed their housing problems.
“After that meeting, the president proposed us to prepare such a program for solving housing problems of young scientists at 37 scientific institutes,” Karamyan said.
He said that this program provide 216 young scientists with a chance to borrow money at preferential interest rates.
The least loan package will amount to AMD 2 billion and the biggest AMD 3 billion.
“This program is singled out for availability of loans,” Karamyan said.
“The cost of these apartments is twice lower than market prices. Loans are extended for 10 to 20 years at 10% interest rate and with 20% prepayment.”
He said that an apartment block would be built in 8, Paruyr Sevak Str. in Yerevan.
Apartments will be completely fit for habitation.
The contractor organization set price for one square meter at 184,000 drams.
The construction is planned to be launched on April 30, 2011 and completed in late February 2013.
Some 500 new jobs will be created in coming two years thanks to this program.
VTB Bank Armenia joined VTB Group in April 2004. VTB Bank, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia).
The bank has 68 branches all over Armenia’s territory. VTB Bank (Armenia) is traditionally reckoned among leaders for general indicators. ($1= AMD 369.62). -0-
On Friday, the Union of Yerevan State University’s Graduates and the VTB Bank (Armenia) signed a relevant cooperation agreement.
VTB Bank (Armenia) has won the tender announced by the Union of Yerevan State University’s Graduates.
“We are glad that our bank won this tender, since mortgage lending plays important part in the strategy of VTB Bank (Armenia),” Mher Grigoryan, deputy director general and chairman of the bank’s directorial board, said in Novosti International Press Center after signing the agreement.
He stressed that this program would be continued, and a new product would be formed in Armenia’s banking system.
Grigoryan also said that the bank attaches importance to the program of mortgage lending to young scientists, since scientists are solvent – they have stable source of income for 20 or 30 years.
“Taking it into account, we view scientists as good strategic clients,” he added.
Arsen Karamyan, the deputy minister of sports and youth issues and the president of the Union of Yerevan State University’s Graduates, reminded journalists that Armenian President Serzh Sargsyan has met young scientists in mid-2010 and discussed their housing problems.
“After that meeting, the president proposed us to prepare such a program for solving housing problems of young scientists at 37 scientific institutes,” Karamyan said.
He said that this program provide 216 young scientists with a chance to borrow money at preferential interest rates.
The least loan package will amount to AMD 2 billion and the biggest AMD 3 billion.
“This program is singled out for availability of loans,” Karamyan said.
“The cost of these apartments is twice lower than market prices. Loans are extended for 10 to 20 years at 10% interest rate and with 20% prepayment.”
He said that an apartment block would be built in 8, Paruyr Sevak Str. in Yerevan.
Apartments will be completely fit for habitation.
The contractor organization set price for one square meter at 184,000 drams.
The construction is planned to be launched on April 30, 2011 and completed in late February 2013.
Some 500 new jobs will be created in coming two years thanks to this program.
VTB Bank Armenia joined VTB Group in April 2004. VTB Bank, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia).
The bank has 68 branches all over Armenia’s territory. VTB Bank (Armenia) is traditionally reckoned among leaders for general indicators. ($1= AMD 369.62). -0-
