The FINANCIAL — According to APA-Economics, Nikoil Bank has doubled the mortgage loan ceiling $400,000. The bank said the change in mortgage loan lending program aims to provide more opportunities to customers to own more luxury homes.
Mortgage loan are available at 16-18% annually for year years with a 20% upfront.
Customers can take out a mortgage and own a house or an apartment.
As of January 1, Azerbaijan-based Nikoil Bank’s assets stood at AZN 117.093 million, loan portfolio at AZN 96.658 million, deposit portfolio at AZN 56.659 million, aggregate capital at AZN 13.673 million and authorized capital at AZN 10 million.
Nikoil Bank was fined in accordance with the Administrative Offences Code.
Nikoil Bank is owned by Russia’s Uralsib Financial Corporation (61%), Uralsib Invest (19%) and Azerbaijan’s ISR Holding (20%). The bank has been in operation since 1997.
Discussion about this post