TODAY.AZ / Business

Banks to provide mortgage credits

18 February 2006 [09:04] - TODAY.AZ
The Mortgage Fund under the auspices of the National Bank of Azerbaijan (NBA) determined 15 authorized banks to participate in the crediting process to be started soon.

As APA informs, these are the International Bank of Azerbaijan, Azerdemiryolbank, Azerigasbank, Atabank, Bank of Baku, Bank Standard, Caucasian Development Bank, Kochbank, Bank Respublika, UniBank, Capitalbank, Nikoil Bank, Tekhnikabank, Turanbank and Khalgbank.

So, from this point on, those wishing to obtain mortgage credits funded from the state budget must appeal to the abovementioned authorized banks. Credit funds will be allocated for these banks by the Fund with 6% per annum and the banks will provide credit to consumers with maximum 12% per annum. Credit can be given for a period of 3-15 years. In general, AZN 30 million is planned to be appropriated for the Mortgage Fund from the state budget in 2006.

URL: http://www.today.az/news/business/23450.html

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