Assets of Mortgage & Credit Guarantee Fund increased by 40%


January 12, Fineko/abc.az. Assets of the Mortgage & Credit Guarantee Fund increased almost by 40% up to AZN 958.2 million by the end of 2017.

The Fund reports that annual retained earnings amounted to AZN 15 million following the past year.

"Last year the Fund’s authorized banks received 12,702 applications for mortgage loan in the amount of AZN 859.7 million and gave 3,109 loans, including 1,706 subsidized for AZN 70.6 million. In 2017 it was refinanced 2,860 loans for AZN 184.2 million," the MCGF said.

In 2006-17 the Fund gave mortgage loans for AZN 944.3 million and that promoted to improvement of living conditions of 21,300 families.