BAKU, Azerbaijan, January 19. Azerbaijan's Mortgage and Credit Guarantee Fund has set new limits for mortgage lending to authorized banks, Trend reports via the Fund.
The limits will be active on January 24, at 11:00 (GMT+4).
Applications for mortgage lending are accepted on the e-government portal (www.e-gov.az) via the "Electronic Mortgage and Credit Guarantee" system in real-time.
The credit portfolio of Azerbaijani banks totaled 19.67 billion manat ($11.55 billion) as of the end of 2022. This figure grew by 20.83 percent against 2021. The loan portfolio of Azerbaijani banks in 2021 amounted to 16.2 billion manat ($9.53 billion).
Out of total loans, business loans accounted for 55.79 percent (10.97 billion manat ($6.4 billion), growth of 15.22 percent year over year), consumer loans – 29.34 percent (5.77 billion manat ($3.38 billion), growth of 31.16 percent), mortgage loans – 14.87 percent (2.9 billion manat ($1.7 billion), growth of 24.25 percent year over year).