Baku, Azerbaijan, Feb. 6
By Azad Hasanli - Trend:
The Azerbaijani banks reduced interest rates on deposits both in national and in freely convertible currency, according to the Azerbaijani Central Bank (CBA) report on the results of 2014 posted on its website Feb.6.
The average rate on deposits in AZN for January 1, 2015 made up 8.86 percent compared to 9.42 percent in January 1, 2014, the statistical report of the CBA said. The average rate on deposits in foreign currency amounted to 9.24 percent versus 9.66 percent in early January 2014.
As of January 1, 2015, the average interest rate on deposits of individuals in AZN made up 9.45 percent, while on January 1, 2014, it was 9.81 percent. The average rate on deposits from individual customers in foreign currencies amounted to 9.78 percent versus 10.23 percent in early January 2014.
The average rate on deposits of legal entities in AZN made up 5.51 percent at the beginning of January 2015 versus 5.74 percent for January 1, 2014, the report said. The average rate on deposits from corporate clients in foreign currency amounted to 6 percent versus 2.98 percent in early January 2014.
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