Baku, Azerbaijan, Oct.14
By Anvar Mammadov - Trend:
Azerbaijani banks have reduced the interest rates on deposits both in national and foreign currencies in August 2015 compared to the previous month, said the message from the Central Bank of Azerbaijan (CBA).
The average rate on deposits in manats stood at 7.98 percent as of Sept.1, compared to 8.41 percent in July, 8.86 percent - in June, 8.81 percent - May, 8.82 percent - April, 8.99 percent -March, 8.95 percent - February, 8.82 percent - January, 8.86 percent - as of early 2015, according to the report.
The average rate on deposits in foreign currency totaled 8.33 percent, compared to 8.36 percent in July, 8.47 percent - in June, 4.03 percent - May, 8.31 percent - April, 8.75 percent - March, 8.73 percent - February, 8.93 percent - January, 9.24 percent - as of early 2015.
Moreover, the average rate on deposits of individuals in manats stood at 9.49 percent as of Sept.1, 2015, compared to 9.67 percent in July, 9.7 percent - June, 9.66 percent - May, 9.58 percent - April, 9.71 percent - March, 9.64 percent - February, 9.41 percent - January and 9.45 percent - as of early 2015.
The average rate on deposits of individual customers in foreign currencies in August amounted to 9.33 percent compared to 9.39 percent in July, 9.48 percent in June, 9.50 percent in May, 9.51 percent in April, 9.62 percent in March, 9.57 percent in February, 10.05 percent in January, 9.78 percent at the beginning of 2015.
The CBA report said that at the beginning of September 2015, the average rate on deposits of legal entities in manats accounted for 4.34 percent compared to 5 percent in July, 6.50 percent in June, 5.95 percent in May, 5.88 percent in April, 5.85 percent in March, 5.78 percent in February, 5.66 percent in January, 5.51 percent at the beginning of 2015.
Average rate on deposits of corporate clients in foreign currency stood at 3.99 percent compared to 4.01 percent in July, 4.13 percent in June, 4.03 percent in May, 3.93 percent in April, 4.31 percent in March, 4.34 percent in February, 4.36 percent in January, 6 percent at the beginning of 2015.
Edited by SI
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