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Rates on deposits continue decreasing in Azerbaijan

Business Materials 13 January 2014 19:40 (UTC +04:00)

Baku, Azerbaijan, Jan. 13

By Emin Aliyev - Trend:

As of December 1, 2013, Azerbaijani banks slightly reduced the rate on deposits in manat and in freely convertible currency, a statistical report of the Central Bank of Azerbaijan (CBA) said on Jan.13.

According to CBA, the average rate on deposits in manat as of December 1, 2013 was 9.51 percent compared to 10.04 percent as of December 1, 2012. The average rate on deposits in foreign currency amounted to 9.7 percent compared to 10.2 percent as of early December 2012.

As of December 1, 2013, the average rate on individuals' deposits in manat was 9.87 percent compared to 10.37 percent as of December 1, 2012. The average rate on individual clients' deposits in foreign currency amounted to 10.30 percent compared to 10.84 percent as of early December 2012.

According to the report, as of early December 2013, the average rate on legal entities' deposits in manat was 6.04 percent compared to 6.74 percent as of December 1, 2012.

The average rate on corporate clients' deposits in foreign currency was 3.08 percent compared to 3.76 percent as of early December 2012.

Translated by L.Z.

Edited by C.N.

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