Azerbaijan, Baku, Nov. 8 /Trend /
At the beginning of October 2012 Azerbaijani banks reduced interest rates on loans in local and foreign currency, the statistical report of the Central Bank of Azerbaijan (CBA) said on Thursday.
The average rate on bank lending to the economy of Azerbaijan in national currency amounted to 15.43 percent on October 1compared to 16.27 percent on January 1, 2012, and 16.07 percent - on October 1, 2011.
The average rate on bank lending in hard currency was 15.53 percent compared to 16.79 percent and 16.34 percent respectively.
By early October, the average rate on bank lending to legal entities in national currency amounted to 13.47 percent compared to 14.53 percent as of January 2012 and 14.42 per cent - October 1, 2011.
The average rate on bank loans to corporate clients in hard currency was 12.37 percent compared to 14.30 percent and 13.91 percent respectively.
On October 1 the average rate on bank lending to individuals in national currency amounted to 18.48 percent compared to 19.06 percent as of January 2012 and 18.77 per cent - October 1, 2011.
The average rate on bank loans to individual clients in hard currency was 22.42 percent compared to 22.90 percent and 22.62 percent respectively.