MICB LOWERS INTEREST RATE ON CREDIT WITHIN STATE MORTGAGE PROGRAM

The Moldindconbank is lowering the rate on credit within the state program "First House". According to the bank, by means of this decision the MICB intends to reduce the total cost of credit and to simplify the access to the program for a greater number of country citizens.

"Being a bank with high level of social responsibility, the MICB is the first bank which sets a goal to help people buy their own housing via the "First House" program. The bank is halving (lowering by 1.5%) the profit margin acceptable within the program", the bank says.

As a result, the buying of personal housing by means of Moldindconbank is a most profitable solution.

"On the basis of forecasts of re-financing rates it can be supposed with certainty that the buying of housing within the "First House" program will become even more accessible in the nearest future", said the Infotag interviewee.

Infotag's dossier: In April 2018, the MICB earned profit worth 206.04 million lei, which is the second result among 11 country banks. Its assets reached 15.2 billion lei, capital - 2.3 billion lei. The Moldindconbank is one of the most active partners of the "First House" program and one of the country's largest creditors to Moldovan economy and population, holding a credit portfolio of 6.4 billion lei (20% market share).

The governmental program "First House" was launched on March 26. It is designed for Moldovan citizens aged up to 45, who are working in public or private sectors. Moldovan citizens may buy housing, which was built and commissioned before the date of application submitting. The cost of the housing should not exceed 1 billion lei, while initial contribution, repaid by the beneficiary, accounts for 10% of the price.