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Azerbaijani banks increase deposit rates

Business Materials 13 May 2015 17:37 (UTC +04:00)

Baku, Azerbaijan, May 13

By Azad Hasanli - Trend:

The Azerbaijani banks increased interest rates on deposits both in national and foreign currency in March 2015 compared to February, the report of the Central Bank of Azerbaijan as of January-March 2015 said.

The average rate on deposits in manat as of April 1, 2015 made up 8.99 percent compared to 8.95 percent in February, 8.82 percent in January and 8.86 percent in early 2015. The average rate on deposits in foreign currency amounted to 8.75 percent versus 8.73 percent in February, 8.93 percent in January and 9.24 percent as of early 2015.

As of April 1, 2015, the average interest rate on deposits of physical entities in manat made up 9.71 percent, while it was 9.64 percent in February, 9.41 percent in January and 9.45 percent in early 2015. The average rate on deposits of individual customers in foreign currency amounted to 9.62 percent versus 9.57 percent in February, 10.05 percent in January and 9.78 percent in early 2015.

The average rate on deposits of legal entities in manat made up 5.85 percent in early April 2015 versus 5.78 percent in February, 5.66 percent in January and 5.51 percent in early 2015. The average rate on deposits of corporate clients in foreign currency amounted to 4.31 percent versus 4.34 percent in February, 4.36 percent in January and 6 percent in early 2015.

Some 45 banks operate in Azerbaijan; two of them are with the state share.

Edited by CN

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