Today was a press conference of the Chairman of the Board of JSC VTB Bank (Azerbaijan), Yuri Yakovlev, in which he announced the intention to triple its mortgage portfolio in the next financial year.
As he said today at the press center of Interfax-Azerbaijan, the bank started an active mortgage lending in July 2014 in a test mode, because the total portfolio for this position is approximately 10 million manat.
The head of the local branch of VTB Russia wants to increase the capacity at the expense of the equity in the active sale of apartments provided by the builders, whose business has been financed by the bank. "Though mortgage is for low-income people, it is promising from the point of view of not stopping activity in the implementation of housing, so it is a priority area for us," he said.
JSC VTB Bank (Azerbaijan) obtained the license of the Central Bank of AR in March 2009. Of the bank's shares, 51% are owned by JSC VTB Bank, 48.99% - by Ata Holding, and 0.1% - by an individual. --17D-
Economics
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