Baku. Nijat Mustafayev – APA-Economics. Azerbaijan-based Azerdemiryolbank plans to boost its mortgage loan portfolio by 6-fold to $12 million within a year.
Roman Amirjanov, Chairman of the Board, said a $5 million loan received from IFC and additional funds to be made available by other financial institutions will allow reaching the target in time.
He added that mortgage loans will only be lent to individuals.
As of July 1, Azerdemiryolbank’s assets stood at AZN 200.2 million, loan portfolio at AZN 153.2 million, deposit portfolio at AZN 61.5 million, total capital at AZN 32.8 million and authorized capital stood at AZN 13.3 million.
Azerdemiryolbank has been in operation since 1989.
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