Azerbaijan, Baku, August 6 /Trend/
As of July 1, 2013, the Azerbaijani banks lowered interest rate on loans in local and foreign currency compared to the same date of 2012.
According to the report provided by the Azerbaijani Central Bank, the average rate on bank lending to Azerbaijan's economy in national currency amounted to 14.21 percent compared to 15.66 percent for July 1, 2012. The average rate on bank lending in freely convertible currency amounted to 14.71 percent compared to 15.44 percent in early July, 2012.
As of July 1, 2013, the average rate on bank lending to legal persons in national currency amounted to 11.6 percent compared to 13.74 percent for July 1. 2012. The average rate on bank loan of corporate client in freely convertible currency amounted to 11.18 percent compared to 12.62 percent for early July, 2012.
As of July 1, 2013 the average rate on bank lending to individuals in national currency amounted to 18.05 percent compared to 18.49 percent for July 1, 2012. The average rate on bank loan of individual client in freely convertible currency amounted to 21.47 percent compared to 21.94 percent for early July, 2012.