Baku, Azerbaijan, July 4
By Zulfiya Gurbanova - Trend:
Azerbaijani banks reduced interest rates on deposits both in national currency and in freely convertible currency as of June 1, 2014.
The average rate on deposits in AZN was 9.07 percent as of June 1, 2014 compared to 9.48 percent on June 1, 2013, according to the statistical report from the Central Bank of Azerbaijan.
The average rate on deposits in foreign currency stood at 8.99 percent compared to 10.37 percent in early June, 2013.
As of June 1, 2014, the average rate on individuals' deposits in AZN was 9.49 percent, while on June 1, 2013 it was 9.99 percent.
The average rate on individuals' deposits in foreign currency amounted to 10.10 percent versus 10.59 percent in early June 2013.
In early June, 2014 the average rate on deposits of legal entities in AZN was 5.73 percent compared to 5.05 percent on June 1, 2013, according to the report.
The average rate on corporate clients' deposits in foreign currency was 2.89 percent compared to 5.22 percent in early June 2013.
Edited by CN