BAKU, Azerbaijan, Oct.23
Trend:
The volume of mortgage loans issued by Azerbaijani banks issued through the Mortgage and Credit Guarantee Fund amounted to 26.2 million manats ($15.4 million), which is 3.5 million manats ($2 million) more than in September last year, Trend reports citing the statistical bulletin of the Central Bank of Azerbaijan (CBA).
According to the CBA, in September alone, mortgage loans issued by Azerbaijani banks in the amount of 45 million manats ($26.5 million) were refinanced.
It is reported that the average monthly amount of loans issued by authorized banks of the mortgage and credit guarantee fund amounted to 54,661 manats ($32,162) (in September 2020 – 52,462 manats / $30,869), which is a record figure for the entire period of operation of the mortgage and credit guarantee fund.
It is noted that the average maturity of loans amounted to 282 months.
CBA also reports that the average annual interest rate amounted to 6.32 percent against 6.38 percent a year earlier, and the average monthly payment accounted for 383.2 manats / $225.48 (366.4 manats / $215.59 in September 2020).
