Baku, Azerbaijan, May 3
By Sara Israfilbayova – Trend:
In March 2019, banks in Azerbaijan issued state mortgage loans worth 16.2 million manats, which is 4.3 percent more than in the same period last year, Trend reports referring to the report of the Central Bank of Azerbaijan.
In March, the volume of refinancing loans issued by banks earlier amounted to 27.2 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 49,690 manats in March 2019 (this figure stood at 45,950 manats in March 2018). The average loan disbursement period was 282 months (281 in March 2018), while the average annual interest rate was 6.52 percent (6.63 percent a year before) and the average monthly payment was 349.3 manats (327.6 manats in the previous year).
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 May 3)
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