Baku, Azerbaijan, April 10
By Emin Aliyev - Trend:
As of March 1, 2014 the Azerbaijani banks have reduced interest rates on loans in local and foreign currencies, as compared with the data for March 1, 2013.
The average rate on bank lending to the economy in national currency totalled 14.47 percent, compared to 14.98 percent on March 1, 2013, according to a statistical report from the Central Bank of Azerbaijan.
The average rate on bank lending in freely convertible currency was 14.32 percent compared to 15.46 percent in early March 2013.
As of March 1, 2014, the average rate on bank lending to legal entities in national currency amounted to 11.46 percent, compared to 12.46 percent as of March 1, 2013.
The average rate on bank lending of corporate clients in freely convertible currency was 10.69 percent compared to 12.55 percent in early March 2013.
As of March 1, 2014 the average rate on bank lending to individuals in national currency was 18.21 percent, compared to 18.61 percent on March 1, 2013.
The average rate on bank loans to individual customers in freely convertible currency was 20.38 percent compared to 21.89 percent in early March, 2013.
Translated by S.I.