12:12 - 1.08.2023

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August 1, Fineko/abc.az. The Azerbaijan Mortgage & Credit Guarantee Fund completed the 1st half of 2023 with profit of AZN 11.578 million for Jan-Jun 2023.

ABC.AZ reports that this is 17.1% more versus Jan-Jun 2022.

Over the past half-year, AMCGF interest income amounted to AZN 37.817 million (21.2% more than a year earlier), interest expenses – AZN 20.805 million (24.8% more), expected credit loss – AZN 475,000 (24.6% less), human resources costs – AZN 3.001 million (25% more), administrative and other expenses – AZN 2.39 million (4.3% more).

As of July 1, 2023, AMCGF’s assets amounted to AZN 2.542 bn (16.5% more than a year ago).
Fund's liabilities grew by 20.9% up to AZN 1.48 bn, the balance sheet capital by 10.8% up to AZN 1.06 bn, including the authorized capital by 11.9% up to AZN 893 million.
The AMCGF was created by the presidential decree from December 25, 2017 through the reorganization of Azerbaijan Mortgage Fund JSC and Credit Guarantee Fund JSC in the form of a merger.