Azerbaijan sees 20% growth in August’s mortgage lending

Azerbaijan sees 20% growth in August’s mortgage lending
  • Clock-gray 16:11
  • calendar-gray 09 October 2017

Azerbaijan-based banks allocated AZN 19.8 million of government mortgage loans through Azerbaijan Mortgage Fund in August 2017, up 20% or AZN 3.3 million from July.

 

According to Central Bank of Azerbaijan, the banks have given mortgage loan in the amount of AZN 113.1 million since early 2017.

 

In August, AZN 2.3 million was allocated from the state budget for AMF.

 

AMF refinanced AZN 8.2 million in August 2017.

 

The AMF did not issue 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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