Azerbaijan sees 13% decline in September’s mortgage lending

Azerbaijan sees 13% decline in September’s mortgage lending
  • Clock-gray 13:45
  • calendar-gray 08 November 2017

Azerbaijan-based banks allocated AZN 17.2 million of government mortgage loans through Azerbaijan Mortgage Fund in September 2017, down 13.13% or AZN 2.6 million from August.

 

According to Central Bank of Azerbaijan, the banks have given mortgage loan in the amount of AZN 130.3 million since early 2017.

 

In September, AZN 4.3 million was allocated from the state budget for AMF.

 

AMF refinanced AZN 11.8 million in September 2017.

 

The AMF did issued AZN 50 million bonds at BSE in the reporting period.

 

Regarding AMF mortgage portfolio, as of September 1, the loans allocated by authorized credit institutions amounted to AZN 43,279.6, average period – 281 months, interest rate 6.65% and monthly payment AZN 309.5.

 

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