Average interest rate for bank credits in manats ups in Azerbaijan
Azerbaijan, Baku, March 4 / Trend , N.Ismayilova/
As of Feb. 1, 2009, average annual rate of banking crediting comprised 18.45 percent in national currency against 17.45 percent as of Jan. 1 and 17.49 percent as of 1 February 2008. The average annual rate on banking crediting the economy made up 16.93 percent in hard currency as compared to 14.52 percent as of Jan.1 and 16.17 percent as of Feb. 1, 2008, the National Bank of Azerbaijan (NBA) said on March 4.
In early February, the average bank lending rate for legal entities in the national currency was 16.44 percent compared to 14.87 percent on Jan. 1 and 15.13 percent on Feb. 1, 2008. The average bank lending rate for cooperate clients in hard currency was 15.53 percent compared to 12.37 percent on Jan. 1 and 13.78 percent on Feb. 1, 2008.
The average bank lending rate for physical persons in the national currency was 22.03 percent compared to 21.53 percent on Jan. 1 and 20.44 percent on Feb. 1 2008. The average lending rate for individual clients in hard currency was 21.69 percent compared to 21.52 percent and 21.22 percent respectively.
On March 4, the official exchange rate is 0.8053 manat to $1.
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