Azerbaijan, Baku, July 4 / Trend, E. Aliyev /
Azerbaijani banks reduced interest rates on loans in local and foreign currencies by June 1, 2013 compared to the same date last year, according to a statistical report of the Central Bank of Azerbaijan (CBA) released on Thursday.
Thus, the average rate on bank lending to Azerbaijan's economy in national currency stood at 14.19 percent compared to 15.99 percent as of June 1, 2012. The average rate on bank lending in hard currency stood at 14.61 percent compared to 16.31 percent in early June 2012.
On 1 June 2013, the average rate on bank lending to legal entities in national currency was at 11.65 percent compared to 14.33 percent as of June 2012. The average interest rate on bank loans to corporate clients in hard currency was at 11.03 percent compared to 13.8 percent as of June 2012.
On 1 June 2013, the average interest rate on bank lending to individuals in national currency amounted to 17.89 percent compared to 18.47 percent as of June 1, 2012. The average rate on bank loans to individual clients in hard currency was at 21.44 percent compared to 22.15 percent in early June 2012.