Mortgage and Credit Guarantee Fund gets 17% in profit

As of April 1, 2019, the assets of the Mortgage and Credit Guarantee Fund (MCGF) stood at AZN 1,255,152,000, up 17.1% from the previous year, Report informs citing the Fund.

MCGF says that mortgage loans made AZN 933.377 million or 74.4% of assets. The loan portfolio rose by 28.85% year-on-year.

Liabilities rose by 27% to AZN 702.56 million, including debt liabilities increased by 25% to AZN 664.278 million, total capital surged by 6.5% to AZN 552.593 million, authorized capital soared 4.3% to AZN 486 million.

Interest incomes advanced 15.6% to AZN 12.855 million, interest expenditures went up 12.5% to AZN 4.557 million, loss on depreciation fell 4.3% to AZN 399,000, commission fee climbed 10.5% to AZN 208,000, other incomes grew by 34.7% to AZN 264,000, expenses on human resources ascended by 44.9% to AZN 936,000, administrative and other expenditures rose by 15.8% to AZN 521,000. Consequently, the Fund ended the first quarter of 2019 on AZN 6.499 million in profit, up 16.85% by contrast to a year earlier.