Baku, Azerbaijan, Oct. 9
By Azad Hasanli - Trend:
Azerbaijani banks reduced the average interest rate on loans in national and foreign currency in August 2016, the report of the Azerbaijani Central Bank (CBA) said.
The average rate on bank lending to the Azerbaijani economy in national currency amounted to 12.28 percent in August 2016 compared to 12.37 percent in July 2016.
The average interest rate on loans hit 13.72 percent as of August 2015.
The average rate on bank lending in freely convertible currency made up 10.21 percent in August 2016 compared to 10.3 percent in July 2016 and 13.01 percent as of August, 2015.
The average rate on bank lending to the legal entities in national currency amounted to 8.2 percent compared to 8.15 percent in July 2016 and 9.94 percent as of August 2015.
The rate on bank lending to the corporate clients in foreign currency amounted to 6.17 percent in August 2016 compared to 6.25 percent in July 2016 and 9.23 percent in August 2015.
As of August 2016, the average rate on bank lending to physical entities in national currency amounted to 16.41 percent compared to 16.71 percent in July 2016 and 17.81 percent as of Sept.1, 2015.
The average rate on bank loans to the individual customers in foreign currency was 18.65 percent compared to 18.77 percent and 21.83 percent, accordingly.