BAKU, Azerbaijan, November 23. Agent banks of the Azerbaijani Mortgage and Credit Guarantee Fund (MCGF) issued mortgage loans in the amount of 415.8 million manat ($244.4 million) from January through October 2023, which is 17.18 percent more year-on-year (354.9 million manat or $208.7 million), Trend reports.
The data of the Central Bank of Azerbaijan (CBA) shows that the MCGF refinanced loans in the amount of 396.4 million manat ($233.2 million) during the reporting period, which is year-on-year growth of 23.77 percent.
Meanwhile, the average size of the mortgage loan issued was about 59,650 manat ($35,088). 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 320 million manat ($188.3 million) from January through October 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 December 2022.
