BAKU, Azerbaijan, Dec. 25
By Zeyni Jafarov - Trend:
Azerbaijani banks issued mortgage loans worth 21.1 million manat ($12.4 million) in November 2020, which is almost 32 percent less than in the same month of 2019, Trend reports citing the statistical bulletin of the Central Bank of Azerbaijan (CBA).
According to the CBA, in November of this year, mortgage loans issued by banks were refinanced in the amount of 28.7 million manat ($16.8 million), while in November last year, loans for 7.5 million manat ($4.41 million) were refinanced.
The average monthly amount of loans issued by authorized banks of the Mortgage and Credit Guarantee Fund amounted to 52,746 manat ($31,027) in November this year, which is the highest indicator for the entire period of the fund's operation. In November 2019, the mentioned figure was equal to 50,632 manat ($29,783).
At the same time, the average loan maturity was 282 months, having increased by one month year on year. The average annual interest rate was 6.36 percent, while a year earlier - 6.44 percent, and the average monthly payment was estimated at 368.2 manat ($216.5), against last year's figure of 354.4 manat ($208.4).
(1 USD = 1.7 AZN on Dec. 25)
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