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Mortgage Fund observed a decrease in net profit last year

30.04.2020,11:55


April 30, Fineko/abc.az. The Mortgage & Credit Guarantee Fund has unveiled the financial indicators for 2019.

ABC.AZ reports with reference to the Fund's financial report that the MCGF completed 2019 with net profit of AZN 18.695 million.

This means a decrease of AZN 801,000 or 4.1% compared with 2018.

Along with this, MCGF's interest income also declined. Thus, interest income reduced from AZN 48 million in 2018 to AZN 45 million last year. In 2019 Fund's interest expenses grew from AZN 17.414 million up to AZN 18.825 million.

At the end of 2018 MCGF’s mortgage loan portfolio amounted to AZN 886.489 million, and at the end of 2019 – AZN 998.158 million.