Baku, Azerbaijan, Oct. 13
By Azad Hasanli – Trend:
The average interest rate on deposits in Azerbaijani banks increased in national currency and decreased in foreign currency in August 2016, the Azerbaijani Central Bank’s report said.
According to the report, the average rate on bank deposits in manat made up 8.55 percent in August 2016 compared to 7.71 percent in July 2016 and 7.98 percent in August 2015.
The average rate on deposits in foreign currency amounted to 4.97 percent in August 2016 compared to 5.14 percent in July 2016 and 8.33 percent in August 2015, the report said.
According to the report, the banks drew deposits of legal entities in manat in the amount of 6.16 percent per annum in August 2016 compared to 5.63 percent and 4.34 percent in July 2016 and August 2015 accordingly.
The funds on the accounts denominated in the foreign currency brought 3.36 percent to legal entities in August 2016, 3.47 percent in July 2016 and 3.99 percent in August 2015, the report said.
As of September 1, 2016, the average interest rate on deposits of physical entities in manat made up 9.80 percent compared to 8.84 percent as of August 1 and 9.49 percent as of September 1, 2015, the report said.
According to the report, the interest rates on deposits of physical entities in foreign currency are as follows: 6.17 percent in August 2016, 6.33 percent in June 2016 and 9.33 percent in August 2015.
Some 33 banks, including two state-owned banks, operated in Azerbaijan in August.