Baku, Azerbaijan, May 4
By Kheyraddin Nasirzade – Trend:
In March 2019, the average interest rates on bank loans in Azerbaijan in national currency increased, when compared to the same period last year, while there was a decline in average interest rates in foreign currency, compared to the same period last year, Trend reports referring to a report by the Central Bank of Azerbaijan (CBA).
According to the report, rates on manat loans increased for both individuals and legal entities. In the case of foreign currency loans, the decline in interest rates applied to loans for both individuals and legal entities.
Below is a comparative table of interest rates on loans in national and foreign currencies:
|
Average interest rates |
Rates on loans for individuals |
Rates on loans for legal entities |
|
|
March 2018 |
|||
|
Manat loans |
13.45 |
16.65 |
8.87 |
|
Foreign currency loans |
9.74 |
15.86 |
6.96 |
|
February 2019 |
|||
|
Manat loans |
13 |
17.35 |
9.33 |
|
Foreign currency loans |
10.29 |
14.41 |
5.97 |
|
March 2019 |
|||
|
Manat loans |
14.22 |
17.04 |
9.28 |
|
Foreign currency loans |
7.79 |
14.40 |
5.89 |
There are 30 banks in Azerbaijan, including two with state participation.
Follow the author on Twitter: @ 1nasirzade