BAKU, Azerbaijan, June 25. The volume of mortgage loans issued by agent banks of Azerbaijan’s Mortgage and Credit Guarantee Fund amounted to 205.8 million manat ($121.06 million) from January through May 2023, which is 8.34 percent more compared to the same period in 2022 (189.96 million manat or $111.7 million), Trend reports.
According to the Central Bank of Azerbaijan (CBA), the fund refinanced loans in the amount of 160.32 million manat ($94.3 million) during the reporting period, which is 18.4 percent more year-on-year.
Meanwhile, the average size of the mortgage loan issued reached about 58,910 manat ($34,650). At the same time, loans were issued for a period of 282 months at an average rate of 6.33 percent per year.
Previously, in April this year, the fund attracted 100 million manat ($58.8 million) from the placement of bonds (no placements were made in January, February, March and May).
The agent banks of Mortgage and Credit Guarantee Fund issued mortgage loans in the amount of 422.7 million manat ($248.6 million) in 2022.