Azerbaijani banks greatly increase mortgage lending

Finance Materials 26 July 2021 15:07 (UTC +04:00)
Azerbaijani banks greatly increase mortgage lending

BAKU, Azerbaijan, July 26

By Zeyni Jafarov -Trend:

Azerbaijani banks issued mortgage loans in the amount of 32.8 million manat ($19.3 million) in June 2021, which is by 75.4 percent more than in June 2020, Trend reports citing the statistics bulletin of the Central Bank of Azerbaijan (CBA).

According to the CBA, mortgage loans issued by banks in the amount of 39.1 million manat ($23 million) were refinanced in June 2021.

The average monthly amount of loans issued by authorized banks of the Mortgage and Credit Guarantee Fund amounted to 54.3 million manat or $31.9 million (in June 2020 – 51.8 million manat or $30.5 million), which is the highest indicator for the entire period of the work of the fund.

The average maturity of loans was 282 months (monthly growth compared to June 2020).

The average annual interest rate was 6.32 percent compared to 6.42 percent a year earlier while the average monthly payment was 380.1 manat $223.6 in June 2021 (362.3 manat or $213.1) in June 2020).


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