Decrease in deposit rates continues in Azerbaijan
Baku, Azerbaijan, Jan. 5
By Maksim Tsurkov - Trend:
As of December 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 11 months of 2014 posted on its website Jan.5.
The average rate on deposits in AZN for December 1, 2014 made up 8.78 percent compared to 9.51 percent in December 1, 2013, the statistical report of the CBA said. The average rate on deposits in foreign currency amounted to 9.37 percent versus 9.72 percent in early December 2013.
As of December 1, 2014, the average interest rate on deposits of individuals in AZN made up 9.45 percent, while on December 1, 2013, it was 9.46 percent. The average rate on deposits from individual customers in foreign currencies amounted to 10.02 percent versus 10.30 percent in early December 2013.
The average rate on deposits of legal entities in AZN made up 5.35 percent at the beginning of December 2014 versus 6.04 percent for December 1, 2013, the report said. The average rate on deposits from corporate clients in foreign currency amounted to 5.35 percent versus 3.08 percent in early December 2013.
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