BAKU, Azerbaijan, November 30. The agent banks of the Mortgage and Credit Guarantee Fund of Azerbaijan have issued mortgage loans worth 355 million manat ($208 million) from January through October 2022, which is higher by 16.74 percent than in the same period the previous year (304.1 million manat or $178 million), Trend reports via Central Bank of Azerbaijan (CBA).
According to the CBA, the Mortgage and Credit Guarantee Fund refinanced loans during the accounting period for an amount of 320.3 million manat ($188 million) which is 0.96 percent less than in the same period of the previous year.
The Mortgage and Credit Guarantee Fund from January through October 2022 received 95.2 million manat ($56 million) from the state budget to finance mortgage loans, which is 33.9 percent more than in the same period last year (71.1 million manat or $41.8 million).
The average size of the mortgage loans issued amounted to 56.47 manat ($33.21) from January through October 2022. At the same time, loans were issued for a period of 282 months at an average rate of 6.32 percent per year.
During the reporting period, the Mortgage and Credit Guarantee Fund attracted 275 million manat ($161 million) from the placement of bonds (no placements were held in January, May, and July).
