Bank Of Baku

Azerbaijan sees decline in loans given through Mortgage Fund

Azerbaijan sees decline in loans given through Mortgage Fund
# 27 November 2014 08:37 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. As of November 1, the mortgage lending through Azerbaijan Mortgage Fund made AZN 82 mln, down AZN 4.4 mln or 5.09% from previous year.

 

According to Central Bank of Azerbaijan, the state budget did not allocate funds for AMF in September.

 

In January-October, AMF refinanced loans in the amount of AZN 109.7 mln.  

 

The Fund has not placed bonds for 4 months.  

 

Regarding mortgage portfolio, as of November 1, the sum of loans given by the authorized credit institutions made AZN 40,049.2, average period – 279 months, average interest rate – 6.82% and average monthly payment – AZN 318.7.

 

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