BAKU, Azerbaijan, Jan. 30
By Eldar Janashvili – Trend:
Azerbaijani banks issued mortgage loans in the amount of 14.7 million manat ($8.6 million) in December 2019, , which is by over twofold less than in December 2018, Trend reports referring to the Azerbaijani Central Bank’s January report.
Azerbaijani banks issued mortgage loans worth 158.6 million manat ($93.3 million) in 2019, which is 34.5 percent less than in 2018.
In accordance with the report, in December 2019 the volume of refinancing the loans issued by banks amounted to 5.2 million manat (over $3 million). The volume amounted to 220.4 million manat ($129.6 million) in 2019.
The average monthly amount of loans issued by authorized banks of the fund reached 50,821 manat ($29,894) in December, which is the highest indicator for the entire activity of the mortgage fund in the country. This indicator amounted to 49,128 manat ($28,898) in December 2018.
The average loan repayment term was 281 months which remained unchanged compared to December 2018. The average annual interest rate is 6.4 percent (6.5 percent a year earlier), the average monthly payment is 355.9 manat ($209.3) - 347.3 manat ($204.2) a year earlier.
(1 USD = 1.7 AZN on Jan. 30)