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Azerbaijani banks decrease loan rates

Business Materials 11 March 2016 19:56 (UTC +04:00)

Baku, Azerbaijan, March 11

By Anvar Mammadov - Trend:

Azerbaijani banks reduced the average interest rate on loans in national and foreign currency in January 2016, a report of the Azerbaijani Central Bank (CBA) as of January 2016 said.

The average rate on bank lending to the Azerbaijani economy in national currency amounted to 13.36 percent in January 2015 compared to 13.6 percent in the previous month.

The average interest rate on loans hit 13.71 percent as of February 1, 2015.

The average rate on bank lending in freely convertible currency made up 12.37 percent in January compared to 12.53 percent in the previous month.

The average rate was 14.28 percent as of February 1, 2015.

The average rate on bank lending to the legal entities in national currency amounted to 9.25 percent compared to 9.72 percent in December 2015 and 9.74 percent as of February 1, 2015.

The average rate on bank lending to the corporate clients in freely convertible currency amounted to 8.78 percent in January 2016 compared to 9.22 percent as of February 1, 2015.

As of January 2016, the average rate on bank lending to physical entities in national currency amounted to 17.5 percent compared to 17.46 percent in December 2015, 18.59 percent as of February 1, 2015.

The average rate on bank loans to the individual customers in freely convertible currency was 20.65 percent compared to 20.72 percent and 22.27 percent in early 2015.

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