BAKU, Azerbaijan, September 27. Agent banks of the Azerbaijani Mortgage and Credit Guarantee Fund (MCGF) issued mortgage loans in the amount of 349.6 million manat ($205.6 million) from January through August 2023, which is 34.8 percent more than in the same period of 2022 (259.36 million manat or $152.56 million), Trend reports.
According to the Central Bank of Azerbaijan (CBA), the MCGF refinanced loans in the amount of 312.2 million manat ($183.6 million) during the reporting period, which is year-on-year growth of 41.21 percent.
Meanwhile, the average size of the mortgage loan issued was about 59,390 manat ($34,940). At the same time, loans were issued for a period of 282 months at an average rate of 6.34 percent per year.
The fund attracted 220 million manat ($129.4 million) in the first eight months of this year from the placement of bonds (no placements were held in January, February, March and May).
The MCGF’s agent banks issued mortgage loans in the amount of 422.7 million manat ($248.6 million) in 2022.
