BAKU, Azerbaijan, Aug. 26
By Zeyni Jafarov - Trend:
Azerbaijan's Mortgage-Credit Guarantee Fund completed the first half of 2021 with a net profit of 8.44 million manat ($4.96 million), Trend reports citing the fund.
According to the fund, in the reporting period its incomes amounted to 27.86 million manat ($16.39 million), including operating incomes - 12.98 million manat ($7.64 million), and expenses - 19.42 million manat ($11.42 million).
"As of July 1, assets exceeded 1.89 billion manat ($1.11 billion), having grown by 6.2 percent since the beginning of the year. The loan portfolio of the fund during the reporting period equaled 1.27 billion manat ($750 million), and the volume of deposits placed in banks reached 51 million manat ($30 million)," the fund said.
The fund's liabilities increased from the beginning of the year by 6.9 percent - up to 1.02 billion manat ($600 million), the balance capital increased by 5.4 percent - up to 864 million manat ($508.2 million), and the authorized capital - up to 762.5 million manat ($448.5 million, increase of 19. 7 percent on annual basis).
The Mortgage and Credit Guarantee Fund was created by the decree of the head of state in 2017 through the reorganization and merger of Azerbaijan Mortgage Fund OJSC and Azerbaijan Credit Guarantee Fund OJSC.
(1 USD = 1.7 AZN on Aug.26)
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