Baku, Azerbaijan, Aug. 5
By Sara Israfilbayova - Trend:
Banks in Azerbaijan issued mortgage loans worth 6.9 million manats in June 2019, which is 2.7 times less than the same period of the previous year, Trend reports referring to a report by the Central Bank of Azerbaijan (CBA).
According to the report, the volume of loans allocated through refinancing amounted to 14 million manats in June.
The average monthly amount of loans provided by the authorized agent banks of the Mortgage and Credit Guarantee Fund of Azerbaijan amounted to 50,183 manats in April, which is higher than in April last year, when the figure was 47,077 manats.
The average loan disbursement period was 281 months, while the average annual interest rate was 6.49 percent (having made up 6.6 percent a year earlier). Meanwhile, the average monthly payment was 351.8 manats (335 manats).
Authorized banks of the Azerbaijan' Mortgage and Credit Guarantee Fund include 25 banks (mortgage lending), 13 banks (loans guarantee), as well as 19 insurance companies and 16 evaluation organizations.
($1=1.7 AZN on August 5)
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