BUSINESS BRIEFS

Banks approved mortgages worth Sk10.4 billion

SLOVAKIA's commercial banks approved mortgages worth Sk10.4 billion in the first half of this year, according to data released by the National Bank of Slovakia.

The demand for mortgages is constantly rising. Comparing year-on-year totals banks approved 18.1 percent more money for mortgages during the first half of each year, wrote SITA.

Clients actually used only Sk7.6 billion of this sum, up 10.9 percent year-on-year.

The first Slovak bank obtained a license to provide mortgages in 1997 and by the end of June 2006 licensed banks approved mortgages totalling Sk77.4 billion.

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