Baku, Azerbaijan, Feb. 15
By Anvar Mammadov – Trend:
In December 2017, average interest rates on bank loans in Azerbaijan increased in national currency (manat), but decreased in foreign currency, the country’s Central Bank said in a report.
According to the report, rates on manat loans increased for legal entities, but decreased for individuals. As for the foreign currency loans, the rates decreased for both individuals and legal entities.
Comparative table of interest rates on loans in national and foreign currencies:
|
Average interest rates |
Loan rates for legal entities |
Loan rates for individuals |
|
|
December 2016 |
|||
|
Manat loans |
12.05 |
8.55 |
15.71 |
|
Foreign currency loans |
8.6 |
5.59 |
16.04 |
|
November 2017 |
|||
|
Manat loans |
13.09 |
8.82 |
16.38 |
|
Foreign currency loans |
10.37 |
7.15 |
17.22 |
|
December 2017 |
|||
|
Manat loans |
13.2 |
8.91 |
16.31 |
|
Foreign currency loans |
9.76 |
6.84 |
16.47 |
Thirty banks, including two state owned banks, operate in Azerbaijan.