Azerbaijani banks decline mortgage lending in June

Azerbaijani banks decline mortgage lending in June
  • Clock-gray 16:17
  • calendar-gray 01 August 2018

Azerbaijan-based banks allocated AZN 19 million of government mortgage loans through Azerbaijan Mortgage and Credit Guarantee Fund (AMCGF) in June 2018, down 17.39% or AZN 4 million compared to May. However, the banks allocated AZN 117.4 million of mortgage loans in January-June.

 

In June, no fund was allocated from the state budget for AMCGF.

 

AMF refinanced AZN 21.4 million in June.

 

The AMF issued AZN 20 million bonds at BSE in January-June.

 

Regarding AMF mortgage portfolio, as of July 1, 2018 the loans allocated by authorized credit institutions amounted to AZN 47,078, average period – 281 months, interest rate 6.60% and monthly payment AZN 335.

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