Baku, Azerbaijan, Apr. 14
By Azad Hasanli – Trend:
The average interest rate on deposits decreased in foreign currency but increased in national currency in Azerbaijani banks in February 2017 compared to January 2017, the report of the Azerbaijani Central Bank (CBA) said.
According to the report, the average rate on deposits in manat amounted to 6.61 percent in February 2017 compared to 6.19 percent in January 2017 and 7.83 percent in February 2016.
The average rate on deposits in foreign currency amounted to 4.22 percent in February 2017 compared to 4.4 percent in January 2016 and 6.99 percent in February 2016, the report said.
The banks drew deposits of legal entities in manat in the amount of 3.81 percent per annum in February 2017 compared to 3.37 percent in January 2017 and 6.00 percent in February 2016.
According to the report, the funds on the accounts denominated in the foreign currency brought 3.02 percent to legal entities in February 2017, 3.05 percent in January 2017 and 3.15 percent in February 2016.
As of March 1, 2017, the average interest rate on deposits of the individuals in manat made up 10.53 percent compared to 10.22 percent as of late January 2016 and 8.96 percent as of February 2016, the report said.
According to the report, the interest rates on deposits of individuals in foreign currency are as follows: 5.02 percent in February 2017, 5.25 percent in January 2017 and 8.29 percent in February 2016.