Azerbaijan shares data on mortgage loans issued by country's agent banks

Finance Materials 25 February 2023 10:27 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, February 25. Agent banks of Azerbaijan’s Mortgage and Credit Guarantee Fund issued mortgage loans worth 8.8 million manat ($5.17 million) in January 2023, Trend reports via the Central Bank of Azerbaijan.

This figure dropped by 36.7 percent compared to the same period of 2022 (13.9 million manat or $8.17 million).

According to the Central Bank, the Fund refinanced loans worth 29.86 million manat ($17.56 million) in the reporting period (growth of 38.2 percent against January 2022).

The average issued mortgage lending made up 58,140 manat ($34,195) in January 2023. Meanwhile, loans were issued for 282 months at an average rate of 6.34 percent per year.

The Fund didn't place any bonds during the reporting period.

Agent banks of the Fund issued mortgage loans amounting to 422.7 million manat ($248.6 million) from January through December 2022.