OREANDA-NEWS. June 16, 2008. Tekhnikabank OJSC has realized mortgage crediting programme to purchase apartments in buildings constructed by domestic TVM.

The Bank informed that it formed mortgage portfolio at the level of AZN 6.2 million.

“Crediting was held under annual rate of 10%, However, the term of crediting  made up to three years and advance deposit comes to from 25% of apartment cost,” it was reported.

By present Tekhnikabank total mortgage portfolio makes AZN 27.1 million, including AZN 12 million given under Azerbaijan Mortgage Fund (AMF) line. The portfolio is expected to grow by AZN 10 million till September and to reach AZN 50 million till the end of 2008.

Tekhnikabank is not the first credit institution, which realized exclusive mortgage campaign for construction companies. Earlier the similar programme was launched by Unibank and Akkord.