Azerbaijan, Baku, Oct. 22 / Trend /
As of September 1, 2012 Azerbaijani banks significantly raised the rates on deposits of legal entities in manat, but reduced the rates for the deposits of the corporate sector in freely convertible currency.
According to the statistics report of the Azerbaijani Central Bank, the average rate on deposits in manat as of Sept. 1, 2012 was 10.31 percent compared to 10.26 percent as of Jan. 1, 2012, 10.67 percent as of Sept. 1, 2011.
The average rate on deposits in foreign currency amounted to 10.77 percent compared to 11.11 percent and 11.26 percent respectively.
As of Sept. 1, 2012, the average rate on physical entities' deposits in manat was 10.64 percent compared to 10.76 percent as of early Jan. and 11.34 percent as of early Sept. 2011. The average rate on individual clients' deposits in foreign currency amounted to 10.95 percent compared to 11.27 percent and 11.39 percent respectively.
As of early Sept. 2012, the average rate on legal entities' deposits in manat was 6.88 percent compared to 5.6 percent as of Jan. 1, 2012 and 6 percent as of Sept. 1, 2011. The average rate on corporate clients' deposits in foreign currency was 5.32 percent compared to 7.02 percent and 7.43 percent respectively.