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Average interest rates on credits in national currency in Uzbekistan down

Finance Materials 27 July 2020 10:24
Average interest rates on credits in national currency in Uzbekistan down

BAKU, Azerbaijan, July 27

By Ilkin Seyfaddini - Trend:

Weighted average interest rates on loans in national currency in Uzbekistan have decreased by 0.3 percent in June 2020 compared to May 2020 and amounted to 23.7 percent per annum, Trend reports citing the Central Bank of Uzbekistan.

The weighted average interest rates on short-term loans in the national currency in June 2020 amounted to 24.7 percent per annum (in May 2020, it was 24.8 percent per annum), and on long-term loans amounted to 23.3 percent (in May 2020 it was 23.4 percent per annum).

The highest weighted average interest rates in June 2020 were recorded on credits in the national currency granted for the period from 91 days to 180 days - 25.6 percent per annum (24.6 percent per annum in May 2020).

The lowest weighted average interest rates in June were recorded for credits in the national currency with a term exceeding 10 years, amounting to 17.9 percent per annum in June 2020 (18.4 percent per annum in May 2020).

Currently, there are 31 commercial banks engaged in banking activities in Uzbekistan. In the period from January through June 2020, their aggregate loan portfolio increased by 15.7 percent to 244.9 trillion soum ($23.8 billion).

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