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Deposit rates continue declining in Azerbaijan

Business Materials 8 June 2014 13:52 (UTC +04:00)

Baku, Azerbaijan, June 8
By Zulfiyya Qurbanova - Trend:

As of May 1, 2014, Azerbaijani banks slightly reduced the rate on deposits in manat and in freely convertible currency, according to the Azerbaijani Central Bank's statistics report.

The average rate on deposits in manat as of May 1, 2014 was 9.16 percent compared to 9.55 percent as of May 1, 2013, according to CBA data. The average rate on deposits in foreign currency amounted to 9.64 percent compared to 10.25 percent as of early May 2013.

As of May 1, 2014, the average rate on physical entities' deposits in manat was 9.55 percent compared to 9.98 percent as of May 1, 2013. The average rate on individual clients' deposits in foreign currency amounted to 10.16 percent compared to 10.62 percent as of early May 2013.

As of early May 2014, the average rate on legal entities' deposits in manat was 5.72 percent compared to 5.86 percent as of May 1, 2013, according to the CBA report. The average rate on corporate clients' deposits in foreign currency was 3.47 percent compared to 4.27 percent as of early May 2013.

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