Baku, Azerbaijan, June 10
By Azad Hasanli - Trend:
Azerbaijani banks reduced the average interest rate on loans in national and foreign currency in April 2016, the Azerbaijani central bank's report said.
The average rate on loans issued in national currency amounted to 12.85 percent in April compared to 12.89 percent in March.
The average interest rate on loans hit 14.14 percent as of April 2015.
The average rate on loans in freely convertible currency made up 11.41 percent in April 2016 compared to 11.64 percent in the previous month and 13 percent as of May 1, 2015.
The average rate on bank loans issued to the legal entities in national currency amounted to 8.84 percent. This index remained unchanged compared to March 2016 and hit 9.72 percent in April 2015.
The rate on bank loans issued to the corporate clients in freely convertible currency amounted to 7.68 percent in April compared to 8.31 percent in March and 9.28 percent in April 2015.
As of April 2016, the average rate on loans issued to physical entities in national currency amounted to 16.91 percent compared to 17 percent in March and 18.63 percent as of May 1, 2015.
The average rate on loans issued to the individual customers in freely convertible currency was 19.33 percent compared to 18.91 percent and 21.06 percent accordingly.
Some 37 banks operate in Azerbaijan.