Bank Of Baku

Government mortgage lending declines 2% in Azerbaijan

Government mortgage lending declines 2% in Azerbaijan
# 08 January 2016 16:15 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. As of December 1, 2015, the mortgage lending given through Azerbaijan Mortgage Fund stood at AZN 90.4 mln, down 2.03% or AZN 1.8 mln from a year earlier.

 

Central Bank of Azerbaijan told APA-Economics that compared to October, the government mortgage lending rose AZN 7.2 mln or 8.65% in November.

 

AZN 3.9 mln was allocated from state budget to the AMF in November.

 

In January-November, AMF refinanced AZN 103.1 mln-mortgage loans. AMF issued AZN 5 mln-bonds in November.

 

As of May 1, 2015 average sum of loans given by authorized credit organizations

 

Regarding AMF mortgage portfolio, as of December 1, 2015, the authorized credit organizations gave AZN 40,833.6 for average period of 280 monhths, interest rate of 6.71% and monthly payment of AZN 297.1

 

 

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