Mortgage and Credit Guarantee Fund posts 29% growth in net profit

As of April 1, 2019, the assets of the Mortgage and Credit Guarantee Fund (MCGF) stood at AZN 1,271,749,000, up 32.7% from the previous year.

Report informs that mortgage loans amounted to AZN 886.489 million of this amount. The loan portfolio extended by 29.7% from the previous year.

Liabilities rose by 35.5% to AZN 738.65 million, securities grew 28.6% to AZN 692.598 million, total capital went up 29% to AZN 533.099 million, authorized capital increased by 27.3% to AZN 466 million.

Interest incomes soared 32.4% to AZN 47.989 million, interest expenditures surged 36.6% to AZN 17.414 million, impairment loss ascended by 8.7% to AZN 762,000, commission fees amounted to AZN 634,000, commission costs climbed 24.1% to AZN 804,000, other incomes increased by 5.2% to AZN 824,000, human resources costs rose by 56.95% to AZN 3.566 million, administrative and other expenditures stepped up 27% to AZN 2.352 million, profit tax went up 36.7% to AZN 5.095 million. Consequently, the Fund ended 2018 on AZN 19.456 million in net profit, up 29.2% by contrast to a year earlier.