Baku, Azerbaijan, Oct. 31
By Eldar Janashvili - Trend:
The amount of mortgage loans issued by Azerbaijani banks reached 6 million manat ($3.5 million) as of late September 2019, which is 4.6 times less than in the same period last year, Trend reports referring to the Azerbaijani Central Bank (CBA).
The volume of loans allocated through refinancing amounted to 17.7 million manat ($10.3 million) in September, according to the report.
The average monthly amount of loans provided by the authorized agent banks of Azerbaijan’s Mortgage and Credit Guarantee Fund amounted to 50,400 manat ($29,521) in September 2019, (in September 2018 the figure was 48,100 manat, or $28,174). 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 6.48 percent (6.57 percent a year earlier). Meanwhile, the average monthly payment was 353.1 manat, or $206.8 (341.3 manat, or $199.9 a year earlier).
($1 = 1.7 manat on Oct. 31)
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