BAKU, Azerbaijan, Dec. 5
By Eldar Janashvili - Trend:
At the end of October 2019, Azerbaijani banks issued mortgage loans for 9.1 million manat ($5.3 million), which is 3.4 times less than in the same period last year, Trend reports Dec. 5 with reference to the October report of Azerbaijan’s Central Bank (CBA).
In October, the volume of refinancing of loans issued by banks amounted to 19 million manat ($11.1 million).
The average monthly amount of loans issued by authorized banks of the Azerbaijan Mortgage and Credit Guarantee Fund amounted to 50,500 manat, or $29,766, (in October last year this figure amounted to 48,300 manat, or $28,470), which is the highest figure for the entire operation period of the mortgage fund.
The average loan disbursement term was 281 months, remaining unchanged compared to October 2018. The average annual interest rate was 6.4 percent (6.5 percent a year earlier), the average monthly payment - 354.1 manat, or $208.7 (342.3 manat, or $201.7 in 2018).
($1= 1.7 manat on Dec. 5)