BAKU, Azerbaijan, August 4. Agent banks of the Mortgage and Credit Guarantee Fund of Azerbaijan issued mortgage loans in the amount of 243.6 million manat ($143.2 million) from January through June 2023, which is 12.28 percent more than in the same period of 2022 (216.9 million manat or $12.5 million), Trend reports.
According to the Central Bank of Azerbaijan (CBA), the Fund refinanced loans in the amount of 211.8 million manat during the reporting period, which is 12.49 percent more compared to the same period in 2022.
During the reporting period of 2023, the average size of the mortgage loan issued was about 59,080 manat ($34,752). At the same time, loans were issued for a period of 282 months at an average rate of 6.34 percent per year.
The Fund attracted 140 million manat ($82.3 million) from the placement of bonds (no placements were held in January, February, March and May) during the reporting period.
The Fund’s agent banks issued mortgage loans in the amount of 422.7 million manat ($248.6 million) from January through December 2022.