BAKU, Azerbaijan, Oct. 27
By Zeyni Jafarov – Trend:
Azerbaijani banks issued mortgage loans worth 22.7 million manat ($13.3 million) in September 2020, which is almost four times more compared to September 2019, Trend reports referring to the statistical bulletin of the Central Bank of Azerbaijan (CBA).
According to the data, in September this year, mortgage loans of 15.4 million manat ($9.05 million) issued by banks were refinanced. In September last year, the amount of refinanced loans was 17.7 million manat ($10.4 million).
The average monthly amount of loans issued by authorized banks of the Azerbaijani Mortgage and Credit Guarantee Fund amounted to 52,462 manat ($30,860) in July 2020 (in September 2019 - 50,403 manat ($29,648)), which is the highest indicator for the entire period of the fund's operation.
At the same time, the average loan maturity was 282 months, an increase by one month over the year. The average annual interest rate amounted to 6.38 percent, while a year earlier - 6.48 percent. The average monthly payment was estimated at 366.4 manat ($215.5), against last year's figure of 353.1 manat ($207.7).
(1 USD = 1.7 manat on Oct. 27)
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