Bank Of Baku

Azerbaijan sees 99% decline in government mortgage lending

Azerbaijan sees 99% decline in government mortgage lending
# 09 March 2016 15:18 (UTC +04:00)

Baku. Yegane Lachinzade - APA-Economics. As of February 1, 2016, the mortgage loans given through Azerbaijan Mortgage Fund (AMF) made AZN 0.6 mln, down 85.7% or AZN 3.6 mln from previous year.

 

According to Central Bank of Azerbaijan, the mortgage lending through the AMF slid AZN 96.6 mln or 99.4% in January 2016.

 

AMF refinanced AZN 4.2 mln in January 2016.

 

Fund has not placed bonds in January.

 

As of February 1, 2016, the loans given by authorized credit organizations made AZN 40,878.7, average period – 280 months, average interest rate – 6.71%, monthly payment – AZN 297.3.

 

For comparison to note that the loans given by authorized credit organizations in the same period of 2015 made AZN 40,174, average period – 278 months, average interest rate – 6.77%, monthly payment – AZN 297.4.

 

 

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