Baku, Azerbaijan, July 11
By Azad Hasanli – Trend:
The average interest rate on bank loans in national and foreign currency decreased in Azerbaijan in May 2016, the Azerbaijani Central Bank’s report said.
According to the report, the average rate on loans issued in national currency amounted to 12.43 percent in May compared to 12.85 percent in April.
The average interest rate on loans reached 14.05 percent in May 2015, the report said.
According to the report, the average rate on loans in freely convertible currency reached 10.19 percent in May 2016 compared to 11.41 percent in April 2016 and 12.64 percent in May 2015.
The legal entities obtained manat loans at an average rate of 8.28 percent in May compared to 8.84 percent in April and 9.76 percent in May 2015, the report said.
According to the report, the average rate on bank lending to the corporate clients in freely convertible currency amounted to 5.73 percent in May 2016 compared to 7.68 percent in April and 8.8 percent in May 2015.
The average rate on manat loans to physical entities amounted to 16.72 percent in May compared to 16.91 percent in April and 18.46 percent as of June 1, 2015, the report said.
According to the report, the average rate on bank lending to the individual customers in freely convertible currency was 19.3 percent compared to 19.33 percent and 20.96 percent accordingly.
Some 37 banks operate in Azerbaijan (including two state-owned banks).