Azerbaijan's Mortgage Lending Drops by 3.8%

In January-July of this year, mortgage loans worth 237 million 800 thousand manats were issued in Azerbaijan through the Mortgage and Credit Guarantee Fund (MCGF).

According to calculations by FinFly.News based on data from the Central Bank of Azerbaijan (CBA), this figure decreased by 9 million 400 thousand manats, or 3.8%, compared to the same period last year.

During the reporting period, the volume of loans refinanced by MCGF also declined. The amount of refinanced loans decreased by 53 million 700 thousand manats, or 20.8%, to 204 million 100 thousand manats.

In January-July of this year, MCGF raised 300 million manats through bond issuance. This is 70 million manats, or 18.9%, less compared to the same period last year.

At the same time, the volume of funds received by the Fund from the state budget increased. During the reporting period, MCGF was allocated 63 million 900 thousand manats from the state budget, which is 16 million manats, or 33.4%, more compared to the same period last year.