Baku, Azerbaijan, Feb. 15
By Anvar Mammadov – Trend:
The average interest rate on deposits in Azerbaijani banks increased in national currency and decreased in foreign currency in December 2017, the Azerbaijani Central Bank’s report said.
According to the report, the average rate on bank deposits in manats made up 10.72 percent in December 2017 compared to 10.3 percent in November 2017 and 6.5 percent in December 2016.
The average rate on deposits in foreign currency amounted to 3 percent in December 2017 compared to 3.05 percent in November 2017 and 4.66 percent in December 2016, the report said.
According to the report, the banks drew deposits of legal entities in manats in the amount of 5.82 percent per annum in December 2017 compared to 5.17 percent and 3.91 percent in November 2017 and December 2016 accordingly.
The funds on the accounts denominated in the foreign currency brought 1.41 percent to legal entities in December 2017, 1.39 percent in November 2017 and 3.34 percent in December 2016, the report said.
As of Jan. 1, 2018, the average interest rate on deposits of physical entities in manats made up 11.59 percent compared to 11.74 percent as of late November 2017 and 10.31 percent in December 2016, the report said.
According to the report, the interest rates on deposits of physical entities in foreign currency are as follows: 3.66 percent in December 2017, 3.76 percent in November 2017 and 5.44 percent in December 2016.