Baku, Azerbaijan, Oct. 14
By Anvar Mammadov - Trend:
The average interest rate on loans allocated by Azerbaijani banks in August 2015 in the national currency decreased, while interest rate on loans issued in foreign currency rose, said the report of the Central Bank of Azerbaijan (CBA).
In August 2015, in Azerbaijan, the average rate on bank crediting in national currency amounted to 13.72 percent compared to 13.97 percent in the previous month. The average interest rate on loans at the beginning of 2015 amounted to 13.81 percent.
In August, the average rate on bank lending in freely convertible currency was 13.01 percent compared to 12.73 percent in the previous month. The average interest rate at the beginning of 2015 amounted to 14.07 percent.
The average rate on bank lending to legal entities in national currency amounted to 9.94 percent compared to 9.87 percent in July 2015 and 9.99 percent at the beginning of 2015.
In August, the average rate on bank lending to corporate clients in freely convertible currency amounted to 9.23 percent compared to 8.83 percent and 9.18 percent, respectively.
In August, the average rate on bank lending to physical entities in national currency amounted to 17.85 percent compared to 18.29 percent in July 2015 and 18.53 percent at the beginning of 2015.
The average rate on bank lending to individual clients in freely convertible currency was 21.83 percent compared to 21.46 percent and 21.52 percent, respectively.
There are 43 banks in Azerbaijan, two of which are state owned ones.
Edited by CN