Mortgage and Credit Guarantee Fund sees 3% rise in pretax profit

Baku. 11 February. REPORT.AZ/ As of January 1, 2019, the assets of the Mortgage and Credit Guarantee Fund (MCGF)  stood at AZN 1,276,581,000, up 33.2% from a year earlier. Mortgage loans amounted to AZN 895.274 million or 70.1% of the total amount. In 2018, the Fund’s loan portfolio extended by 30.95%.

The fund's liabilities rose by 36.5% settling at AZN 744,074,000, with debt liabilities surged by 28.45% settling at AZN 691,797,000. Total capital has risen by 28.9% to AZN 532,507,000, while the authorized capital ascended by 27.3% to AZN 466,000,000.

Interest incomes amounted to AZN 47.988,000, up 32.4% in comparison to a year earlier, while the interests spending made AZN 17,414,000 (+36.4%). 

The fund ended the year 2018 with the pretax profit at AZN 19,319,000, up 2.85% from 2017.