Baku, Azerbaijan, May 12
By Azad Hasanli - Trend:
Azerbaijani banks reduced the average interest rate on loans in national and foreign currency in March 2016, the report of the Azerbaijani Central Bank (CBA) said.
The average rate on bank lending to the Azerbaijani economy in national currency amounted to 12.89 percent in March compared to 13.17 percent in February.
The average interest rate on loans hit 14.02 percent as of March 2015.
The average rate on bank lending in freely convertible currency made up 11.64 percent in March 2016 compared to 12.34 percent in the previous month and 12.9 percent as of April 1, 2015.
The average rate on bank lending to the legal entities in national currency amounted to 8.84 percent compared to 9.25 percent in January and 9.75 percent as of March 2015.
The average rate on bank lending to the corporate clients in freely convertible currency amounted to 8.31 percent in March compared to 8.86 percent in February and 8.84 percent in March 2015.
As of March 2016, the average rate on bank lending to physical entities in national currency amounted to 17 percent compared to 17.24 percent in February and 18.39 percent as of April 1, 2015.
The average rate on bank loans to the individual customers in freely convertible currency was 18.91 percent compared to 20.19 percent and 21.42 percent accordingly.
Some 37 banks operate in Azerbaijan.