Azerbaijan sees 38% growth in July’s mortgage lending

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8 September 2017

Azerbaijan-based banks allocated AZN 16.5 million of government mortgage loans through Azerbaijan Mortgage Fund in July 2017, up 38.65% or AZN 4.6 million from June.

 

According to Central Bank of Azerbaijan, the banks have given mortgage loan in the amount of AZN 93.3 million since early 2017.

 

In July, AZN 4.6 million was allocated from the state budget for AMF.

 

AMF refinanced AZN 12.8 million in July 2017.

 

The AMF issued AZN 25 million-bonds at BSE in the reporting period.

 

Regarding AMF mortgage portfolio, as of August 1, the loans allocated by authorized credit institutions amounted to AZN 42,451.3, average period – 278 months, interest rate 6.60% and monthly payment AZN 303.

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