Azerbaijan, Baku, 8 April / Trend corr. U.Ismayilova / The semi-state Azerbaijani bank Kapital Bank and Black Sea Trade and Development Bank (BSTDB) will sign an agreement on development of the mortgage crediting program in the Azerbaijani banking system in May, Samira Sharifova, head of the Strategic Development and Marketing Department of Kapital Bank, stated.
"Bank made a decision to allocate $12mln for the development of its mortgage program," Sharifova stated. Bank will collect portfolio for mortgage crediting only after signing the agreement.
"The bank management is developing conditions of mortgage crediting. The average duration of the mortgage crediting is set at six years, but interest rates of crediting have not been announced yet," she said.
In 2007, Kaрital Bank was privatized (50%) and as a result the authorized capital of the bank was AZN24mln. AtaHolding and Xalq Bank have 20% of shares and Azersun Holding - 10% of shares in the bank.
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