Azerbaijan, Baku / corr Trend I.Khalilova / Bank Respublika of Azerbaijan began the realization of its own mortgage program and issued loan in the amount of AZN 7.9mln in this respect, Khadija Hasanova, the chairman of managing board of the Bank.
The mortgage of Bank Respublika is allocated for 10 years with the rates ranging from 15% a year. "Our bank has enough flexible mortgage system and it depends on the duration, initial fee and client's solvency," Hasanov said.
Bank Respublika is one of partners of the Azerbaijani Mortgage Fund, functioning by the National Bank. Through this Fund, the bank issued loan for AZN 10.8mln, the head of Bank Repsublika said. Terms of crediting though AMF finance after their revision at the beginning of 2007 is as follows: they were given for the term of from 3 to 30 years under the rate of 4-8% with the initial fee of 15%.