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    Azerbaijan Mortgage Fund's portfolio expected to grow by 30-40% this year

    Fitch: AMF's return on equity will fall to 1.65% in 2017

    Baku. 2 March. REPORT.AZ/ Azerbaijan Mortgage Fund's portfolio is expected to grow by 30-40% in 2017. 

    Report informs citing the Fitch international rating agency forecast this is due to the plans by Fund to attract funds in the amount of 250 mln AZN in 2017. Thus, the government has approved the transfer of 50 mln AZN from budget to the AMF in 2017. In addition, this year Financial Stability Board, chaired by the Prime Minister of Azerbaijan has agreed to issue additional AMF's guaranteed bonds in the volume of 200 mln AZN.

    Fitch noted that annual financial transfers by government continues and by the end of 2016 total volume of these payments reached 316 mln AZN. The majority of bonds emissions (335 mln AZN) issued by AMF purchased by Central Bank of Azerbaijan (CBA).

    Fitch also predicts AMF's return on equity will fall to 1.65% in 2017. In 2014-2016 this figure was 1,97% and will decline due to the transformation of AMF into the income tax payers since 2016.

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