BAKU, Azerbaijan, October 25. Agent banks of the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan issued mortgage loans worth 366 million manat ($215.2 million) from January through September 2024, which is 6.61 percent less than in the same period of 2023, Trend reports.
According to the Central Bank of Azerbaijan, MCGF refinanced loans worth 308 million manat ($181.1 million) in the reporting period, which is 12.9 percent less compared to the same period of 2023.
In the reporting period of the current year, the average size of the issued mortgage loan amounted to about 62,470 manat ($36,747). At the same time, the loans were issued for a term of 281.5 months at an average rate of 6.37 percent per year.
MCGF attracted 450 million manat ($264.7 million) from bond placements during the reporting period (no placements were made in February and July).
To note, the agent banks of the MCGF issued mortgage loans amounting to 461.4 million manat ($271.4 million) in 2023.
