BAKU, Azerbaijan, January 25. The volume of mortgage loans issued by agent banks of Azerbaijan’s Mortgage and Credit Guarantee Fund grew from January through December 2022, Trend reports via Central Bank of Azerbaijan (CBA).
According to the CBA, this figure amounted to 422.7 million manat ($248.6 million), up by 18.64 percent compared to the same period in 2021 (365.3 million manat or $214.8 million).
According to the CBA, during the accounting period, the Mortgage and Credit Guarantee Fund refinanced loans for an amount of 406.8 million manat ($239.2 million), which is 0.76 percent less than in the same period of 2021.
Besides, over the reporting period, the fund received 95.2 million manat ($56 million) from the state budget to finance mortgage loans, which is 33.9 percent more than in the same if 2021 (71.1 million manat or $41.8 million).
Meanwhile, the average size of the mortgage loans issued amounted to nearly 56,810 manat ($33,420). At the same time, loans were issued for a period of 282 months at an average rate of 6.32 percent per year.
The Mortgage and Credit Guarantee Fund attracted 450 million manat ($264.7 million) from the placement of bonds (no placements were held in January, May, and July).
Agent banks of the Mortgage and Credit Guarantee Fund of Azerbaijan issued mortgage loans in the amount of 255.5 million manat ($150.2 million) from January through December 2020.