BAKU, Azerbaijan, July 28
By Eldar Janashvili - Trend:
Azerbaijani banks issued mortgage loans in the amount of 18.6 million manat ($10.9 million) in June 2020, which is 3 times more compared to June 2019, Trend reports citing the statistical bulletin of the Central Bank of Azerbaijan (CBA).
In the reporting month, 5.2 million manat ($3 million) worth of mortgage loans issued by the country’s banks were refunded, while in June 2019, the amount of refunded mortgage loans was 14 million manat ($8.2 million), said the report.
The average monthly amount of loans issued by authorized banks of the Azerbaijan Mortgage and Credit Guarantee Fund made up 51,781 manat ($30,460), which is the highest indicator for the fund’s entire activity in the country. In June 2019, the average monthly amount of issued loans was 50,182 manat ($29,520).
“The average term for loan repayment was 281 months, decreasing by a month compared to the indicator for June 2019. The average annual interest rate in June 2020 amounted to 6.42 percent, while a year earlier this figure was 6.49 percent. Meanwhile, the average monthly payment was 362.3 manat ($213.1 million), and in June 2019 - 351.8 manat ($206.9),” added the report.
($1 USD = 1.7 manat on July 28)
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