BAKU, Azerbaijan, October 25. Agent banks of the Azerbaijani Mortgage and Credit Guarantee Fund (MCGF) issued mortgage loans in the amount of 391.9 million manat ($230.5 million) from January through September 2023, which is 34.95 percent more year-on-year (290.4 million manat or $170.8 million), Trend reports.
The data of the Central Bank of Azerbaijan (CBA) shows that the MCGF refinanced loans in the amount of 353.6 million manat ($207.9 million) during the reporting period, which is year-on-year growth of 23.94 percent.
Meanwhile, the average size of the mortgage loan issued was about 59,520 manat ($35,011). At the same time, loans were issued for a period of 282 months at an average rate of 6.33 percent per year.
The fund attracted 270 million manat ($158.8 million) from January through September 2023 from the placement of bonds (no placements were held in January, February, March and May).
The MCGF’s agent banks issued mortgage loans in the amount of 422.7 million manat ($248.6 million) in 2022.