Baku, Azerbaijan, Oct. 1
By Eldar Janashvili - Trend:
The amount of mortgage loans issued by banks in Azerbaijan reached five million manats as of late August 2019, which is almost four times less than the same period of the previous year, Trend reports referring to the Central Bank of Azerbaijan (CBA).
According to the CBA report, the volume of loans allocated through refinancing amounted to 14.9 million manats in August.
The average monthly amount of loans provided by the authorized agent banks of the Mortgage and Credit Guarantee Fund of Azerbaijan amounted to 50,336 manats in August 2019, which is higher than in August 2018, when the figure was 47,632 manats. This is the highest figure in the history of the mortgage fund in the country.
The average loan disbursement period was 281 months, while the average annual interest rate was 6.49 percent (having made up 6.6 percent a year earlier). Meanwhile, the average monthly payment was 352.7 manats (338.7 manats a year earlier).
(1 USD = 1.7 AZN on Oct. 1)
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