BAKU, Azerbaijan, January 23. Agent banks of Azerbaijan's Mortgage and Credit Guarantee Fund (MCGF) issued mortgage loans worth 461.4 million manat ($271 million) in 2023, up 9.17 percent from 2022, Trend reports.
According to the Central Bank of Azerbaijan (CBA), the IKGF refinanced loans worth 492 million manat ($289 million) in the reporting period, 20.95 percent more than in 2022.
The average size of the issued mortgage loan amounted to about 59,872 in 2023. At the same time, the loans were issued for 282 months at an average rate of 6.34 percent per year.
To note, during the reporting period, the ECGF attracted 450 million manat ($264.4 million) from bond placements (no placements were made in January, February, March, and May).
Meanwhile, the agent banks of the ECGF issued mortgage loans worth 422.7 million manat ($248.3 million) from January through December 2022.
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