Azerbaijan, Baku, May 9 / corr. Trend A.Akhundov /
Azerbaijani banks have lowered interest rates on credits in manats, according to a report of the Central Bank of Azerbaijan (CBA).
On March 1 the average rate on bank lending to the economy of Azerbaijan in national currency amounted to 16.17 percent versus 16.27 percent on January 1, 2012, 16.43 percent - on March 1, 2011.
The average rate on bank lending in foreign currency was 16.4 percent against 16.79 percent and 16.89 percent respectively.
By early March the average interest rate on bank lending entity in national currency amounted to 14.51 percent versus 14.53 percent in January 2012 and 14.46 percent in March 2011. The average rate on bank loans to corporate customers in foreign currency was 13.72 percent compared to 14.3 percent and 13.71 percent respectively.
On February 1 the average rate on bank lending to an individual in national currency amounted to 18.78 percent versus 19.06 percent on January 1, 2012 and 19.67 percent - on March 1, 2011.
The average rate on bank credit for an individual client in foreign currency amounted to 23.01 percent against 22.9 percent and 23.8 percent respectively.
Banks have lowered interest rates on deposits. The average rate on deposits in manats on March 1 totaled 10.21 percent versus 10.26 percent on January 1, 2012, 11.14 percent on March 1, 2011.
The average rate on deposits in foreign currency amounted to 11.04 percent versus 11.11 percent and 11.89 percent respectively.
On March 1 the average rate on deposits of individuals in manats was 10.65 percent, the first of January - 10.76 percent, at the beginning of March 2011 - 11.79 percent. The average rate on individuals' deposits in foreign currency was 11.2 percent compared to 11.27 percent and 12.08 percent respectively.
At the beginning of February the average interest rate on deposits of legal entities in manats was 6.24 per cent against 5.6 per cent on January 1, 2012 and 6.43 percent on March 1, 2011.
At the beginning of February the average interest rate on deposits of legal entities in manat was 6.24 per cent against 5.6 per cent on January 1, 2012 and 6.43 percent on March 1, 2011.
The average rate on deposits from corporate customers in foreign currency was 6.99 percent versus 7.02 percent and 7.18 percent respectively.
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