OREANDA-NEWS. April 10, 2008. Tekhnikabank, the country’s leader on mortgage crediting under Azerbaijan Mortgage Fund (AMF) standards is going to expand such operations.

Tekhnikabank Chairman Samir Huseynov said that today mortgage portfolio reaches AZN 27 million.

“At the same time we do not interrupt talks on attracting additional credit lines aimed at mortgage. Now we are negotiating with on of the European investment funds, which is ready to endorse a credit line aimed at mortgage development,” S.Huseynov said.

Tekhnikabank became the first bank in Azerbaijan that attracted foreign borrowings for mortgage financing. In early December 2007 Black Sea Trade & Development Bank endorsed a \\$8 million loan for six years only for mortgage financing. By present the bank has realized that line by 87%. Tekhnikabank mortgage portfolio by state line totals about AZN 11 million on 319 loans.