Azerbaijani banks decline mortgage lending in May

# 08:54
2 July 2018

Azerbaijan-based banks allocated AZN 23 million of government mortgage loans through Azerbaijan Mortgage and Credit Guarantee Fund (AMCGF) in May 2018, down 11.9% or AZN 3.1 million compared to April. Thus, the banks allocated AZN 98.4 million of mortgage loans in January-May.


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


AMF refinanced AZN 18.3 million in May.


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


Regarding AMF mortgage portfolio, as of June 1, 2018 the loans allocated by authorized credit institutions amounted to AZN 46,765, average period – 281 months, interest rate 6.60% and monthly payment AZN 332.6.