Baku, Azerbaijan, March 5
By Fakhri Vakilov - Trend:
The weighted average interest rates on term deposits in foreign currency In Uzbekistan for a period of up to 1 year decreased in January 2018 by 0.1 percentage point (p.p.) to 3.8 percent per annum, and their profitability by 2.6 percent, interest rates over one year remained at the same level of 4.2 percent per annum, Trend reports with reference to Nuz.uz.
In particular, the weighted average interest rates on term deposits in foreign currency for individuals increased by an average of 0.1 percentage points in the first month of the year, while their profitability increased by 2.1 percent, and in legal entities case decreased by 0.5 p.p. and 12.6 percent.
Earlier it was reported that in 2018, the weighted average interest rates on term deposits in foreign currency for a period of up to 1 year decreased in Uzbekistan by 1.1 percentage points to 3.9 percent per annum, and their profitability - by 4.9 percent, over 1 year - increased by 0.7 percentage points up to 4.2 percent per annum, profitability - by 17.9 percent.
In particular, the weighted average interest rates on term deposits of individuals increased last year by an average of 0.1 percentage points, while their profitability increased by 2.2 percent, and of legal entities - by 2.3 percentage points and 2.4 times respectively.
Nowadays, the banking system of Uzbekistan has 29 commercial banks. In January-December 2018, the total volume of foreign currency deposited in Uzbek banks decreased by 9.9 percent to $3.2 billion, and their share in the total structure of bank deposits decreased from 48.4 to 38.1 percent.
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