BAKU, Azerbaijan, Sept.22
By Zeyni Jafarov - Trend:
The volume of mortgage loans issued by Azerbaijani banks in August 2021 has slightly decreased, Trend reports citing the statistical bulletin of the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure amounted to 25.7 million manat ($15.12 million), which is 300,000 manat ($176,470) or 1.2 percent less than in August 2020 (26 million manat or $15.3 million).
Mortgage loans issued by banks in the amount of 54.2 million manat ($31.8 million) were refinanced in the 8th month of this year, up by 2.3 times compared to the same month of 2020 (23.7 million manat or $13.9 million).
Meanwhile, the average monthly amount of loans issued by authorized banks of the Mortgage and Credit Guarantee Fund equaled 54,541 manat or $32,080 (against 52,306 manat or $30,770 in August of last year), which is the highest indicator for the entire period of its work.
The average maturity of loans was 282 months, remaining unchanged compared to August 2020.
The average annual interest rate was 6.32 percent, thus having lowered by 0.07 percentage points compared to August 2020 (6.39 percent), while the average monthly payment was 382.2 manat or $224.8 (365.2 manat or $214.8 in the 8th month of last year).
(1 USD = 1.7 AZN on Sept.22)
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