BAKU, Azerbaijan, March 29. Agent banks of the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan issued mortgage loans worth 52.2 million manat ($30.6 million) from January through February 2024, which is 23.11 percent more than in the same period of 2023, Trend reports.
According to the data of the Central Bank of Azerbaijan (CBA), MCGF refinanced loans worth 47.9 million manat ($28.1 million) in the reporting period, which is 31.67 percent less compared to the same period in 2023.
During the reporting period of the current year, the average size of the issued mortgage loan amounted to about 61,370 manat ($36,084). At the same time, the loans were issued for a term of 281.5 months at an average rate of 6.34 percent per year.
Meanwhile, MCGF attracted 50 million manat ($29.3 million) from bond placements during the reporting period (no placements were made in February).
However, the agent banks of the MCGF issued mortgage loans worth 461.4 million manat ($271.2 million) in 2023.
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