Volume of mortgage loans increased up to 4 billion manats

The volume of the mortgage loan portfolio of Azerbaijani banks increased by 7.3% in 5 months of 2024.

banks.az reports that according to CBA statistical bulletin, at the end of June 1, 2024, the volume of mortgage loans amounted to 3. 89 billion manats.

In 5 months of 2024, the Azerbaijan Mortgage & Credit Guarantee Fund received 43.9 million manats from the State Budget. The volume of loans given by banks for 5 months amounted to 215.8 million manats of mortgage loans.

Mortgage loans refinanced by the AMCGF amounted to 134.8 million manats. In 2023, this figure reached 160.3 million manats.

Nevertheless, in 5 months, the Fund raised 250 million manats by issuing bonds to the BSE (2.5-fold more than a year earlier).

The average interest rate on mortgage loans was 6.34% (a trend that has continued since the beginning of 2023), and monthly payments amounted to 443.4 manats. The average monthly payments at the beginning of the year totaled 432.9 manats.