Baku, Azerbaijan, Nov. 4
By Azad Hasanli - Trend:
The average interest rate on loans issued by Azerbaijani banks in national currency increased in September 2015, while in foreign currency - decreased, the Azerbaijani Central Bank's report as of Jan.-Sept. 2015 said.
The average rate on bank lending to the Azerbaijani economy in national currency amounted to 14.01 percent as of September 2015 compared to 13.72 percent in the previous month.
The average interest rate on loans hit 13.81 percent in early 2015.
The average rate on bank lending in freely convertible currency made up 12.74 percent compared to 13.01 percent in the previous month.
The average rate was 14.07 percent in early 2015.
The average rate on bank lending to legal entities in national currency amounted to 9.97 percent compared to 9.94 percent in July 2015, 9.99 percent as of early 2015.
The average rate on bank lending to corporate clients in freely convertible currency amounted to 8.92 percent compared to 9.23 percent and 9.18 percent in September accordingly.
As of September, the average rate on bank lending to physical entities in national currency amounted to 17.80 percent compared to 17.82 percent in August 2015, 18.53 percent in early 2015.
The average rate on bank loans to individual customers in freely convertible currency was 21.73 percent compared to 21.83 percent.
There are 43 banks in Azerbaijan, two of which are state banks.