Bank Of Baku

Azerdemiryolbank lends 35 state-funded mortgage loans

Azerdemiryolbank lends 35 state-funded mortgage loans
# 10 August 2009 12:49 (UTC +04:00)
Baku. Vugar Mustafayev – APA-Economics. Since the government-funded mortgage loan lending programme restarted in Azerbaijan, Azerdemiryolbank has lent 35 mortgage loans, including 6 social mortgages.

The bank said the value of mortgage loans reached AZN 1.426 million.

The maturity of loans varies between 3 and 25 years.

Azerdemiryolbank has been in operation since 1989. The European Bank for Reconstruction and Development (EBRD) holds a 25%+1 stake in the bank, leaving 10% to the Netherlands Development Finance Company (FMO), 10% to legal entities and the rest to about 850 individuals.
The bank operates 29 branches, 40 ATMs and 240 POS terminals.
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