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Azerbaijan-based banks see decline in profitability from deposits
Finance
- 10 December, 2018
- 09:34
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Baku. 10 December. REPORT.AZ/ As of November 1, 2018, the average annual interest rate made up 9.62% on Azerbaijan-based banks’ manat deposits, 2.35% on foreign currency deposits , relevantly down 0.17 percentage point and 0.04 percentage point from previous month, Report informs citing the Central Bank of Azerbaijan.
The average interest rate on legal entities’ manat deposits dropped from 5.55% to 5.3%, foreign currency deposits from 1.22% to 1.21%.
As for individuals’ deposits, the interest rate on manat deposits fell by 0.11 percentage point to 10.19%, on foreign currency by 0.06 percentage point to 2.89%.
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