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Mortgage lending in Azerbaijan through state line greatly grows in 2020

Finance Materials 28 January 2021 16:30
Mortgage lending in Azerbaijan through state line greatly grows in 2020

BAKU, Azerbaijan, Jan. 28

By Zeyni Jafarov – Trend:

Mortgage loans worth 257.5 million manat ($151.5 million) were issued through the Mortgage and Credit Guarantee Fund of Azerbaijan as of early January 2021, which is by 48.3 percent or 83.9 million manat ($49.3 million) more compared to early January 2020, Trend reports citing the statistics report of the Central Bank of Azerbaijan (CBA).

The number of loans refinanced by the fund decreased in 2020 compared to 2019 by almost 25.7 percent and amounted to 163.7 million manat ($96.3 million), and during the reporting period, funds allocated from the state budget of the Mortgage and Credit Guarantee Fund doubled and amounted to 161 million manat ($94.7 million).

As of December 2020, Azerbaijani banks issued mortgage loans in the amount of 28.8 million manat ($16.9 million), which is by almost 96 percent more compared to the same month of 2019.

(1 USD = 1.7 manat on Jan. 28)

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