MCGF ends nine months on profit

Baku. 1 November. REPORT.AZ/ As of October 1, 2018, assets of the Azerbaijan Mortgage and Credit Guarantee Fund (MCGF) stood at AZN 1,153,610,000, up 20.4% from early 2018, Report informs.

Mortgage loans constituted 70.2% or AZN 810.257 million of this amount. In January-September 2018 the loan portfolio extended by 18.5%.

Total liabilities rose by 9.5% to AZN 597.061 million, while debt liabilities increased by 7.8% to AZN 580.827 million, total capital grew by 28.55% to AZN 531.133 million, authorized capital rose by 27.3% or AZN 100 million to AZN 466 million (by merging Azerbaijan Mortgage Fund and Credit Guarantee Fund).

Interest incomes amounted to AZN 34.881 million, interest expenditures to AZN 12.737 million, loss on depreciation to AZN 833,000, fee and commission costs to AZN 570,000, other incomes to AZN 1.075 million, human resources expenses to AZN 2.343 million, administrative and other expenditures to AZN 1.529 million. Consequently, the MCGF ended January-September on profit of AZN 17.943 million.