BAKU, Azerbaijan, April 20. Agent banks of Azerbaijan’s Mortgage and Credit Guarantee Fund (AMCGF) issued mortgage loans in the amount of 111 million manat ($65.2 million) from January through March 2023, which is 2.87 percent, or 107.9 million manat ($63.4 million) more than in the same period of 2022, Trend reports with reference to the Central Bank of Azerbaijan (CBA).
According to the CBA, AMCGF refinanced loans worth 96.5 million manat ($56.7 million) in the reporting period, which is 30.05 percent more compared to the same period of the preceding year.
The average size of the mortgage loan issued amounted to about 58,510 manat ($34,417) in the accounting period of the current year. At the same time, loans were issued for a period of 282 months at an average rate of 6.34 percent per year.
Moreover, the AMCGF did not issue bonds during the specified period.
The agent banks of Azerbaijan’s Mortgage and Credit Guarantee Fund issued mortgage loans in the amount of 422.7 million manat ($248.6 million) from January through December 2022.