BAKU, Azerbaijan, Nov. 26
By Zeyni Jafarov – Trend:
Azerbaijani banks issued mortgage loans worth 27.1 million manat ($15.9 million) in October 2020,, which is almost 3 times more compared to October 2019, Trend reports citing the statistical bulletin of the Central Bank of Azerbaijan (CBA).
According to the CBA, in October of this year, mortgage loans worth 29.1 million manat ($17.1 million) issued by banks were refinanced, while in October last year, the amount of refinanced loans was 19 million manat ($11.1 million).
The average monthly amount of loans issued by authorized banks of the Mortgage and Credit Guarantee Fund amounted to 52,556 manat ($30,915) in October this year (in October 2019 – 50,530 manat ($29,723), which is the highest indicator for the entire period of the fund's operation.
The average loan maturity was 282 months, an increase by one month compared to October 2019.
At the same time, the average annual interest rate amounted to 6.36 percent, while a year earlier - 6.48 percent, and the average monthly payment was estimated at 366.8 manat ($215.7), against last year's figure of 354.1 manat ($208.2).
(1 USD = 1.7 manat on Nov. 26)
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