Baku, Azerbaijan, April 8
By Kheyraddin Nasirzade – Trend:
In February 2019, banks in Azerbaijan issued state mortgage loans worth 23.5 million manats, which is 22.4 percent more than in the same period last year, Trend reports referring to the report of the Central Bank of Azerbaijan.
In February, the volume of refinancing loans issued by banks earlier amounted to 20.8 million manats, according to the report.
The average amount of monthly loans issued by the authorized banks of the Azerbaijan Mortgage and Credit Guarantee Fund CJSC, amounted to 49,500 manats in February (this figure stood at 45,700 manats in February 2018), which is the highest figure during the Fund’s activity in the country. The average loan disbursement period was 281 months (unchanged compared to February last year), while the average annual interest rate was 6.53 percent (6.63 percent a year earlier) and the average monthly payment was 348.7 manats (325.9 manats).
In general, since 2006, the authorized credit organizations of the Fund have issued 26,068 mortgage loans totaling over 1.27 billion manats.
The authorized banks of the Azerbaijan Mortgage and Credit Guarantee Fund include 25 banks of the country (for mortgage lending), 10 banks (for credit guarantees), as well as 17 insurance companies and 13 appraisal organizations.
($1=1.7 AZN on April 8)
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