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Average rate on bank lending to Azerbaijan's economy in national currency declines in 2010

Business Materials 31 January 2011 16:00

Azerbaijan, Baku, Jan. 31 / Trend N.Ismayilova /

As of Jan.1, the average rate on bank lending to the economy of Azerbaijan in national currency amounted to 14,19 percent compared to 13,66 percent as of Dec. 1, 15,92 percent as of Jan. 1, 2010, the Central Bank of Azerbaijan reported.

Average interest rate on bank lending in hard currency amounted to 17,21 percent compared to 16.43 percent and 17,19 percent, respectively.

As of early January, the average rate on bank lending to legal entities in national currency hit 11.74 percent compared to 11.25 percent as of Dec. 1, 14.14 percent as of Jan. 1, 2010. The average rate on bank credits to corporate clients in hard currency was 14.21 percent compared to 13.28 percent as of Dec. 1, 14.65 percent as of Jan. 1, 2010.

In this period, the average rate on bank lending to physical entities in national currency amounted to 19.81 percent compared to 19.28 percent as of Dec. 1 and 20.54 percent as of Jan.1, 2010. Average interest rate on bank credit to the individual clients in hard currency was 23.69 percent compared to 22.84 percent and 23.27 percent respectively.

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