Other Azerbaijani bank revises tariff policy

Business Materials 29 June 2009 16:28 (UTC +04:00)

Azerbaijan, Baku, June 29/ Trend , N.Ismaylova /

After forming a new board, Azerbaijani Amrahbank revised its tariff policy in order to expand its customer base, said a member of the bank's board Fazil Huseynov said on June 29.
"Changes were made both to loan and deposit rates," said Huseynov.

He said that the board of the bank revised interest rates for loans issued in various spheres, softening its lending policies.

According to him, the average rate on loans granted is now 25-26 percent, while earlier it was 26-27 per cent. Bank's car credit is provided at a rate of 25-26 percent, business and consumer loans at rates of 27-30 percent.

"In addition, interest rates on deposits were increased, and as a result, the maximum rate on deposits was 19 percent - said Huseynov. - Previously the maximum rate of interest on bank deposits totaled 15-16 percent."

As of 1 April 2009, Amrahbank's assets amounted to 61.442 million manat, deposit portfolio - 31.142 million manat, credit portfolio - 39.552 million manat, total capital - 22.552 million manat, including authorized capital - 12.821 million manat.

Today in the republic it has 22 branches, 12 ATMs and 45 POS-terminals.

As of the beginning of the year, net profit of the bank amounted to 3.4 million manat, the total capital - 21.8 million manat, total assets - 62.4 million manat.

Official rate on 29 June is 0.8041 AZN/USD.

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