Decrease in Deposits by Legal Entities Outdoes Shrinkage in Deposit Size
Azerbaijan, Baku, October 8/Trend, E.Aliyev/
As of September 1, 2013, Azerbaijani banks slightly reduced the rate on deposits in national and freely convertible currencies.
According to the Azerbaijani Central Bank's statistics report, the average rate on deposits in manat as of September 1, 2013 was 9.45 per cent compared to 10.31 per cent as of September 1, 2012.
On September 1, 2013, the average rate on physical entities' deposits in manat was 9.94 per cent compared to 10.64 per cent as of September 1, 2012. The average rate on individual clients deposits in foreign currency amounted to 10.43 per cent compared to 10.95 per cent as of early September 2012.
According to the report, as of early September 2013, the average rate on legal entities' deposits in manat was 5.2 per cent compared to 6.88 per cent on September 1, 2012. The average rate on corporate clients' deposits in foreign currency was 4.41 per cent compared to 5.32 per cent as of early September 2012.