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    VTB Bank Azerbaijan reduces mortgage loan rates

    The Bank intends to triple its mortgage portfolio in 2015

    Baku. 25 December. REPORT.AZ/ Bank VTB (Azerbaijan) intends to reduce mortgage loan rates.

    Today in Baku Bank’s member of board Tural Veliyev has stated that currently Bank’s mortgage rates total 12%, but in the future it is planned to cut them down to 10%.

    "Everything will depend on the market situation, as it is long money and requires prudence," T. Veliyev said.

    He added that the Bank also does not rule out the possibility of building and selling apartments, but it is possible only in the long-term prospect, as the main goal of the Bank is to support the development of business.

    In his turn, VTB chairman of board Yury Yakovlev stressed that since July VTB has formed mortgage portfolio for AZN 10 million and is ready to increase it by 2 or 3 times in 2015.

    VTB (Azerbaijan) is the joint business of Russian Bank VTB and Azerbaijan’s Ata Holding.

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