National Hypothecary Company to launch activities in the beginning of next week

July 1, 2009 - 20:09 AMT
PanARMENIAN.Net - National Hypothecary Company CJSC will launch its activities in the beginning of next week, CBA President Arthur Javadyan told a news conference. According to him, this will lead to a drop in the interest rate and extension of loan period.

National Hypothecary Company will form "long money" through issuance of security. This will improve mortgage lending conditions, and increase availability of mortgage credits through interest rate decrease and lengthening of maturity date.

The company will fulfill refinancing of housing guarantee social programs.



According to CBA President, Hypothecary Company's activities, as well as effective allocation of credits, provided by international financial structures, could return Armenia's banking system to the state it was in the beginning of 2008.

National Hypothecary Universal Crediting Company was registered and licensed by CBA on June 16, 2009.
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