BAKU, Azerbaijan, Feb. 29
By Eldar Janashvili – Trend:
In January 2020, Azerbaijani banks issued total mortgage loans worth 6.1 million manat ($3.5 million), which is a twofold decrease compared to the same period in 2019, Trend reports with reference to the CBA January report.
In accordance with the report, in January 2020 the volume of refinancing of loans issued by banks amounted to 3.5 million manat ($2.1 million), which is 6.5 times less than in January 2019.
The average monthly amount of loans, issued by the authorized banks of the Mortgage Fund, in January 2020 amounted to 50,825 manat which is the highest index for the entire period of the Fund's operation in the country.
The average maturity of the loan was 281 months, unchanged from January 2019. The average annual interest rate is 6.43 percent (6.55 percent a year earlier), the average monthly repayment is 355.8 manat ($209.7), as compared to 348.1 manat ($205.1) in 2019.
($1 - 1.7 manat on Feb.29)