  HSBC Bank Armenia, First Mortgage Company sign memo October 7, 2011 - 13:04 AMT PanARMENIAN.Net - HSBC Bank Armenia cjsc has signed a Memorandum on Cooperation with First Mortgage Company UCO LLC (FMC) on refinancing an existing pool of FMC’s Mortgage Loans. Borrowing customers of First Mortgage Company, whose loans are included in the refinanced pool, will be individually notified in advance. No significant changes will apply to First Mortgage Company’s borrowing customers as a result of the deal, since according to the Memorandum the annual percentage rates of the refinanced mortgage loans will remain unchanged, the Bank said in a press release. "We highly value the strategic partnership with such a reputable international financial organization as HSBC. We believe this could become an alternative funding source, that could further improve our company’s financial performance,” First Mortgage Company Chief Executive Officer David Atanessian mentioned. “In addition to the credit products offered by HSBC, we are ready to consider refinancing First Mortgage Company loans if the applications are in line with the respective guidelines established by the Bank,” HSBC Bank Armenia Chief Executive Officer Astrid Clifford said. HSBC Bank Armenia gross customer loans increased by 6 % to AMD91 billion as at 30 June 2011.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Armenia-Qatar ties discussed in Doha  The Secretary of Armenia’s Security Council met with the Deputy Secretary General of the National Security Council of Qatar.ARARAT special evening dedicated to Aznavour's 100th Anniv. On May 20 ARARAT legendary Armenian brandy, celebrated the centennial of Maestro Charles Aznavour with a special event.Surveying works underway in Armenia’s Kirants Surveying works are underway in the Armenian village of Kirants in the northern Tavush province.Armenia calls for prohibiting threats of attacks on nuclear facilities Armenia has raised the need for a treaty prohibiting attacks on nuclear facilities devoted to peaceful purposes. |
