BAKU, Azerbaijan, May 23. The volume of mortgage loans issued by agent banks of Azerbaijan’s Mortgage and Credit Guarantee Fund amounted to 164.9 million manat ($96.9 million) from January through April 2023, which is five percent more year-on-year (157.06 million manat or $92.3 million), Trend reports.
The fund refinanced loans in the amount of 108.32 million manat ($63.7 million) during the reporting period, which is eight percent more year-on-year.
The data of the Central Bank shows that in the reporting period of 2023, the average size of the mortgage loan issued reached about 58,720 manat ($34,541). At the same time, loans were issued for a period of 282 months at an average rate of 6.34 percent per year.
Furthermore, in April this year, the fund attracted 100 million manat ($58.8 million) from the placement of bonds.
The agent banks of Mortgage and Credit Guarantee Fund issued mortgage loans in the amount of 422.7 million manat ($248.6 million) from January through December 2022.
