No significant changes in interest rates on loans and deposits in Azerbaijan in 2011
Azerbaijan, Baku, Aug. 10 / Trend N. Ismayilova /
There were no significant changes in Azerbaijani banks' interest rates on loans and deposits in local and foreign currencies in Jan.-June, CBA report on financial stability said.
As of Jan.-June, the average interest rate on deposits was 11 percent, loans - 16-17 percent.
There was a reduction in real interest rate during the reporting period. The real interest rate on deposits declined from 6.2 percent to 1.9 percent in June compared to the corresponding period of last year. The real lending rate declined from 11.5 percent to 7.6 percent over the year.