Mortgage Fund received AZN 38 million of interest income for Jan-Jun

17:54 - 4.12.2023

December 4, Fineko/ The Azerbaijan Mortgage & Credit Guarantee Fund has published the financial statements for the first half of 2023.

ABC.AZ reports that AMCGF’s net profit in the first half of 2023 increased by 17% compared with the 2022 same term up to AZN 11.578 million.

In the first half of 2022, IKZF's net profit amounted to AZN 9.89 million.

AMCGF’s interest income grew by 21.2% compared with last year and reached AZN 37.816 million, and interest expenses by 24.8% up to AZN 20.8 million. AMCGF operating income for this period amounted to AZN 17.246 million (18% more versus Jan-Jun 2022).

As of July 1, 2023, AMCGF’s total assets increased by 16.5% year-on-year to AZN 2.542 billion. During this period, mortgage loans were given for AZN 1.865 billion.

During this period, mortgage loans (AZN 1.865 billion made up 73.4% of the total assets.

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