BAKU, Azerbaijan, September 27. The agent banks of the Mortgage and Credit Guarantee Fund of Azerbaijan have issued mortgage loans worth 259.4 million manat ($152.5 million) from January through August 2022, which is higher by 1.25 percent than in the same period the previous year (256.2 million manat or $150.7 million), Trend reports via Central Bank of Azerbaijan (CBA).
According to the CBA, mortgage loans issued by banks in the amount of 221.1 million manat ($130 million) were refinanced in the reporting period, which is 6.51 percent less than in the same period in 2021.
Mortgage and Credit Guarantee Fund received 71.4 million manat ($42 million) from the state budget to finance mortgage loans, which is twice as much as in the same period last year (35.6 million manat or $20.9 million).
The average size of the mortgage loans issued amounted to 56,360 manat ($33,152) from January through August 2022. At the same time, loans were issued for a period of 282 months at an average rate of 6.32 percent per year.
During the reporting period, the Mortgage and Credit Guarantee Fund attracted 155 million manat ($91.1 million) from the placement of bonds (no placements were held in January, May and July)