Mortgage & Credit Guarantee Fund’s assets increased against 2018


January 16 Fineko/abc.az. The last year was characterized for the Mortgage & Credit Guarantee Fund by successful financial indicators, according to MCGF’s final report for 2019.

Thus, compared with 2018, Fund's assets grew by 10.2% up to AZN 1.41 bn by the end of 2019, while the annual retained earnings amounted to AZN 18.6 million.

In compliance with the presidential decree from 16 December, MVGF’s authorized capital increased up to AZN 637 million. Capital growth will be ensured at the expense of the State Budget in the amount of AZN 71 million, envisaged for subsidized mortgage lending in 2020.

This year the lease mechanism will start functioning, and provision of guarantees and interest subsidies on mortgage loans, including business loans, will be continued.