Bank Standard lends 20 mortgage loans through its own program

The Senior Deputy of the Board of Bank Standard, Javid Guliyev, told at the press conference that the first mortgage worth AZN 21,090 was lent at an interest rate of 12% annually just after the mortgage lending process started in the country in 2006.

The Bank has to date lent 112 mortgages, of which 92 (AZN 2,924,689) were issued through funding from the Azerbaijan Mortgage Fund while the rest 20 loans were financed through its own lending program.

The Bank's branches in Ganja, Lenkeran and Siazan issued 5 mortgage loans worth AZN 136,760.

Bank Standard issued the first privileged mortgage loan in the country on February 1. The amount of the loan was AZN 26,648 for 25 years at an annual interest rate of 4%.

As of March 31, 2007, the bank lent 3 privilege mortgage loans worth AZN 95,048.
Also, 31 mortgage loans lent through funding from the AMF were re-financed. APA-Economics