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Royal Bank lends 67 mortgage loans

Royal Bank lends 67 mortgage loans

09 December 2009 13:48 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-ECONOMICS. Since the resumption of the government-funded mortgage loan lending, Azerbaijan-based Royal Bank has issued 67 mortgage loans worth of AZN 2.977 million.

The bankâ€™s lead specialist for mortgage loans Bahadur Safaraliyev said the bank received 140 applications for mortgage loans and issued 67 loans including 5 social loans of AZN 170 000 after the government-funded lending restarted.

According to him, 3 more mortgage applications will be considered in a few days.

Azerbaijanâ€™s 2009 state budget envisages AZN 34 million for mortgage loans.

At present the bank operates 31 branches, 4 bureaux de change, 29 ATMs and 97 POS terminals across the country.

Royal Bank (so named in 2008) was established by a U.S. citizen in 1993 as OZ Bank which was renamed as Royal Bank of Baku in 2003.

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