BAKU, Azerbaijan, Apr. 30
By Eldar Janashvili - Trend:
Azerbaijani banks issued mortgage loans in the amount of 27.9 million manat as of late March 2020, which is 72.2 percent more compared to the same month of 2019, Trend reports citing the Statistical Bulletin of the Central Bank of Azerbaijan (CBA).
According to the report, the volume of refinancing of loans issued by banks amounted to 2.7 million manat ($1.5 million) in March 2020.
The average monthly amount of loans issued by authorized banks of the Azerbaijan Mortgage and Credit Guarantee Fund amounted to 51,400 manat ($30,200) in March, compared to 49,500 manat ($29,117) in March 2019, which is the highest figure for the entire duration of the mortgage fund in the country.
The average loan disbursement term was 281 months, unchanged from the indicator for March 2019. The average annual interest rate is 6.42 percent, 6.52 percent - a year earlier, the average monthly payment is 359.2 manat ($211.2), against 349.3 manat ($205.4 manat) a year earlier.
(1 USD = 1.7 AZN on Apr. 30)
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