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Average interest rates on loans down in Azerbaijan

Business Materials 15 February 2018 17:07 (UTC +04:00)

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.

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