Review of mortgage loans in Azerbaijan for July 2019
Baku, Azerbaijan, Aug. 30
By Eldar Janashvili - Trend:
Banks in Azerbaijan issued mortgage loans for 7.6 million manats in July 2019, which is 40 percent less than the same period last 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 20.5 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 50,266 manats in July, which is higher than in July last year, when the figure was 47,340 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 352.4 manats (336.9 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.
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