Leading private bank of Azerbaijan “Bank Standard” gave up the plans of reconsidering in 2008 the conditions of provision of mortgage credits, the first Deputy Chairman of the Board of the bank Dzhavid Guliyev stated.

Mediamax reports referring Trend that earlier, the bank stated the possibility of reducing the interest rates (at present they make 18% per year) and increasing the terms of placement of loans from 5 years to 10.

The delay of the plans, according to Guliyev, is connected with the consequences of the world crisis of liquidity, as a result of which the investors refuse to make investments in developing countries, including Azerbaijan.

“They are ready to provide loans for two-three years, but not longer than ten years, this is why the “Bank Standard” is planning to wait for the stabilization of the markets. We talked with the investors and made sure that we will not be able to attract “long” money to the mortgage”, Dzhavid Guliyev stated.

In the course of the first quarter of 2008, “Bank Standard” plans to open a specialized mortgage center – “Mortgage” branch.