BAKU, Azerbaijan, February 28. The volume of mortgage loans issued by agent banks of Azerbaijan's Mortgage and Credit Guarantee Fund (MCGF) in January 2024 has been announced, Trend reports.
This sum amounted to 16.1 million manat ($9.47 million), which
is 82.95 percent higher than in January last year.
According to data from the Central Bank of Azerbaijan (CBA), the
MCGF refinanced loans worth 20.9 million manat ($12.29 million)
during the reporting month, representing a 30.1 percent
year-on-year increase.
Meanwhile, the average mortgage loan approved was 61,056 manat
($35,920). Loans were provided for 282 months at an average annual
rate of 6.33 percent. Notably, in January of this year, the fund
received 50 million manat ($29.4 million) from bond placements.
Note that in 2023, the MCGF's agent banks made mortgage loans worth
461.4 million manat ($271.4 million).
