BAKU, Azerbaijan, April 7
By Eldar Janashvili - Trend:
As of end of February 2020, Azerbaijani banks issued total mortgage loans worth 20.4 million manat ($12 million), which is 13.4 percent less compared to late February in 2019, Trend reports with reference to the CBA February report.
In accordance with the report, in February 2020, the volume of refinancing of loans issued by banks amounted to 1.1 million manat ($647,058).
The average monthly amount of loans, issued by the authorized banks of the Azerbaijan Mortgage and Credit Guarantee Fund, in late February 2020 amounted to 51,000 manat ($30,000), while this indicator stood at 49,500 manat ($29,117) in late February 2019; thus, this 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 compared to February 2019. The average annual interest rate is 6.42 percent (6.53 percent a year earlier), the average monthly payment is 356.8 manat ($209.9), as compared to 348.7 manat ($205.1) a year earlier.
($1 - 1.7 manat on April 7)
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