Baku, Azerbaijan, August 6
By Ilaha Mammadli - Trend:
As of July 1, 2014, the Azerbaijani banks reduced interest rates on deposits both in national and in freely convertible currency, according to the Azerbaijani Central Bank (CBA) report on the results of the first half of 2014.
The average rate on deposits in manat for July 1, 2014 made up 9.01 percent compared to 9.57 percent late in June, 2013, the statistical report of the CBA said. The average rate on deposits in foreign currency amounted to 9.50 percent versus 10.11 percent in early July 2013.
As of July 1, 2014, the average interest rate on deposits of individuals in manat made up 9.45 percent, while on July 1, 2013, it was 10.05 percent. The average rate on deposits from individual customers in foreign currencies amounted to 10.06 percent versus 10.58 percent in early July 2013.
The average rate on deposits of legal entities in manat was made up 5.7 percent at the beginning of July this year versus 5.14 percent for July 1, 2013, the report said. The average rate on deposits from corporate clients in foreign currency amounted to 3.69 percent versus 3.77 percent in early July 2013.
Edited by CN