Baku, Azerbaijan, Dec. 14
By Anvar Mammadov – Trend:
The average interest rate on deposits in Azerbaijani banks increased in national currency and decreased in foreign currency in October 2017, the Azerbaijani Central Bank’s report said.
According to the report, the average rate on bank deposits in manats made up 10.33 percent in October 2017 compared to 10.15 percent in September 2017 and 6.31 percent in October 2016.
The average rate on deposits in foreign currency amounted to 3.33 percent in October 2017 compared to 3.37 percent in September 2017 and 4.72 percent in October 2016, the report said.
According to the report, the banks drew deposits of legal entities in manats in the amount of 5.42 percent per annum in October 2017 compared to 5.67 percent and 3.77 percent in September 2017 and October 2016 accordingly.
The funds on the accounts denominated in the foreign currency brought 1.37 percent to legal entities in October 2017, 1.36 percent in September 2017 and 3.2 percent in October 2016, the report said.
As of November 1, 2017, the average interest rate on deposits of physical entities in manats made up 11.83 percent compared to 11.75 percent as of late September 2017 and 10.09 percent in October 2016, the report said.
According to the report, the interest rates on deposits of physical entities in foreign currency are as follows: 4.1 percent in October 2017, 4.15 percent in September 2017 and 5.64 percent in October 2016.