Azerbaijan, Baku, Feb. 13 / Trend N. Ismayilova /
In 2011, there were no significant changes in nominal interest rates on loans and deposits , as opposed to the real rate. Thus, the average interest rate on deposits was 11 percent, for loans - 16-17 percent, the CBA said on Saturday.
As of January 1, 2012 the average interest rate on credits in national currency - manat in Azerbaijani banks was 16.27 percent compared to 16.24 percent as of December 1, 16.37 percent as of January 1, 2011.
According to the CBA, the average rate on bank loans in foreign currency amounted to 16.79 percent. As of December 1, 2011, the figure was 16.34 percent, as of January 1, 2011 - 17.31 percent.
The average rate on bank lending to legal entity in national currency amounted to 14.53 percent compared to 14.48 percent as of Dec. 1, 2011 and 14.4 percent as of Jan. 1, 2011. The average rate on bank loans in foreign currency was 14.3 percent, 13.72 percent, 14.2 percent respectively.
The average rate on bank lending to physical entities in national currency amounted to 19.06 percent as of early Jan. 2012. The figure hit 19.09 percent the previous month, on Jan. 1, 2011 - 19.84 percent.
The average rate on bank credit for a physical entity in hard currency amounted to 22.90 percent, 22.98 percent, 23.73 percent respectively.
The average rate on deposits in manat as of January 1, 2012 was 10.62 percent compared to 10.65 percent as of December 1, 2011, 11.11 percent as of January 1, 2011.
The average rate on deposits in foreign currency amounted to 11.11 percent compared to 11.27 percent and 11.64 percent respectively.
As of January 1, 2012, the average rate on physical entities' deposits in manat was 11.76 percent compared to 11.10 percent as of early December 2011 and 11.79 percent as of early 2011. The average rate on physical entities' deposits in foreign currency amounted to 11.27 percent compared to 11.39 percent and 12.27 percent respectively.
As of early January 2012, the average rate on legal entities' deposits in manat was 5.60 percent compared to 6.15 percent as of December 1, 2011 and 6.19 percent as of January 1, 2011. The average rate on corporate clients' deposits in foreign currency was 7.02 percent compared to 8.02 percent and 6.27 percent respectively.