Baku, Azerbaijan, Jan. 5
By Maksim Tsurkov - Trend:
Azerbaijani banks decreased interest rates on loans in local currency and slightly increased the rates in foreign currency.
The average rate on bank lending to the economy of Azerbaijan in national currency amounted to 13.84 percent compared to 14.14 percent as of December 1, 2013, the Central Bank of Azerbaijan's report as of late November 2014 said.
The average rate on bank lending in freely convertible currency made up 14.53 percent compared to 14.52 percent as of early December 2013.
The average rate on bank lending to legal entities in national currency amounted to 10.12 percent compared to 11.57 percent as of December 1, 2013. The average rate on bank lending to corporate clients in freely convertible currency amounted to 9.70 percent compared to 10.89 percent.
As of December 1, 2014, the average rate on bank lending to physical entities in national currency amounted to 18.52 percent compared to 18.34 percent as of December 1, 2013.
The average rate on bank loans to individual customers in freely convertible currency was 21.97 percent compared to 20.75 percent as of early December 2013.
There are 44 banks in Azerbaijan.
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Edited by CN