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Bank deposits reduced in Azerbaijan

Average interest rate in the banking sector of Azerbaijan on manat deposits fell to 8.41%, on foreign currency deposits 8.36% per annum

Baku. 7 September. REPORT.AZ/ In July of this year, the average interest rate on deposits in the banking sector of Azerbaijan decreased in comparison with July and on manat deposits amounted to 8.41%, on deposits in foreign currency 8.36% per annum. According to information, in June of this year this rate was 8.86% and 8.47% respectively.

Report informs it was stated in the report of the Central Bank of Azerbaijan (CBAR).

According to the report, in July, the average interest rate on manat deposits amounted to 9.67%, currency 9.39% on deposits of legal entities, these figures are fixed at respectively 5.00% and 4.01%. The average interest rate on deposits of individuals in manat on a monthly basis fell by 0.03, in foreign currency 0.09, on deposits of legal entities in manat by 1.5, in foreign currency by 0.12 percentage points.

The highest interest rate on deposits fixed for more than 5 years (13.85% per annum), the lowest - on foreign currency deposits for a period of 1-3 months (4.32% per annum).

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