12:42 20.06.2017

PrivatBank, SMI sign memo of cooperation in mortgage crediting and house leasing

1 min read
PrivatBank, SMI sign memo of cooperation in mortgage crediting and house leasing

PrivatBank has signed a memorandum of cooperation in the mortgage crediting and house leasing area with the State Mortgage Institution (SMI). This would allow the bank to step up the introduction of affordable housing crediting programs, the bank has said in a press release.

Head of Consumer Crediting at PrivatBank Andriy Kovtun said that cooperation between the bank and the SMi allows introducing new modern housing programs for Ukrainians, first of all, military servicemen, thanks to advanced technologies used by the bank and opportunities of stimulating the affordable mortgage credits by the state.

The memorandum says that the bank can act as a primary mortgage creditor and issue long-term mortgage credits, as well as the authorized agent of the SMI. The SMI would help to attract financing on the internal and external capital markets via the issue of its securities, including additionally secured ones in the form of government guarantees and modern mortgage crediting and house leasing programs.

PrivatBank nationalized at the end of 2016 is the largest in the country. Its assets totaled UAH 237.252 billion as of April 1, 2017.

AD
AD
AD
AD
AD