Mortgage and Credit Guarantee Fund increased net profit more than 2 times

Baku. 16 May. REPORT.AZ/ Total assets of the Mortgage and Credit Guarantee Fund amounted 958.384 million AZN as of January 1.

Report informs referring to financial report of the Fund , this figure is 38.5% more than in January last year.

Mortgage loans arranged 683.691 million AZN of organization assets. In 2017, the loan portfolio of Fund grew by 27.2%.

During the reporting period, the total liabilities of the Fund increased by 58.5% and became AZN 545,194 million AZN , while the value of issued securities by 59.6% to 538.59 million AZN, total capital increased by 18.7% to 413.19 million AZN, including the authorized capital increased by 19.1% to 366 million AZN.

In 2017, interest income of the organization was 36,244 million AZN (64% more than in 2016), interest expenses - 12,771 million AZN (more than 23.6%), loss of impairment by 701,000 AZN (more than 20%), fees and commissions 648,000 AZN (52.8% more), other revenues 783,000 AZN (76%), human resources costs 2.272 million AZN (32.2% more), administrative and other expenses - 1.852 million AZN (more than 2%), and income tax expense - 3,728 million AZN (6.1 times more). Finally, the Fund concluded last year with $ 15.056 million net profit. It is 2,1 times more than in the previous year.