BAKU, Azerbaijan, April 21
By Zeyni Jafarov - Trend:
The Azerbaijani banks issued mortgage loans in the amount of 39.8 million manat ($23.4 million) as of early April 2021, which is by 42.1 percent more than in the same period of 2020, Trend reports referring to the statistics bulletin of the Central Bank of Azerbaijan (CBA).
"The mortgage loans worth 18.1 million manat ($10.6 million) issued by banks were refinanced in March, while this figure in the same month of 2020 amounted to 2.7 million manat ($1.6 million)," the statistics bulletin said.
"The average monthly amount of loans issued by authorized banks of the Mortgage and Credit Guarantee Fund reached 53,760 manat that’s $31,623 (51,357 manat that’s $30,210 in March 2020), which is the highest indicator for the entire period of the Fund's work," the statistics bulletin said.
"The average loan maturity was 282 months, increasing by one month compared to early April 2020," the statistics said.
"The average annual interest rate was 6.34 percent compared to 6.42 percent a year earlier while the average monthly payment was 375.8 manat that’s $221.05 (359.2 manat that’s $211.3 in early 2020),"the statistics bulletin said.