Azerbaijan Mortgage & Credit Guarantee Fund's income increased 2.1-fold


May 16, Fineko/abc.az. As of 1 January 2018 assets of the Azerbaijani Mortgage & Credit Guarantee Fund (MCGF) amounted to AZN 958.384 million with annual growth of 38.5%.

According to MCGF report made by the end of 2018, mortgage loans made up AZN 683.69 million of Fund's assets.

"Fund’s loan portfolio for the reporting period increased by 27.2%. Its liabilities increased by 58.5% up to AZN 545.19 million and authorized capital by 19.1% up to AZN 366 million," the MCGF report says.

According to the report, Fund’s interest income amounted to AZN 36.2 million and interest expenses AZN 12.771 million. The Fund completed 2017 with net profit of AZN 15.056 million that is by 2.1 times more than in 2016.