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    Credits increased in Azerbaijan

    Rising interest rates observed for loans in local and foreign currencies

    Baku. 23 June. REPORT.AZ/ Average interest rate on credits in national and foreign currencies increased in Azerbaijan. In April, the average interest rate on manat credits increased by 0.12 percentage points to 14.14%, in foreign currency - by 0.1 percentage points to 13.0% per annum.

    Report informs referring to the Central Bank during the reporting period interest rates on loans issued to individuals in national currency increased and interest rate on loans issued to individuals in foreign currency decreased.

    Thus, the average interest rate on manat credits increased by 0.24 percentage points to 18.63% for foreign currency loans - fell by 0.18 percentage points and amounted to 21.06%.

    With regard to legal persons, these indicators on manat credits increased by 0.03 percentage points to 9.72% for foreign currency loans - 0.44 percentage points to 9.28%.

    The highest interest rates on loans in national currency terms ranging from 9 months to 1 year, equal to 18.36%, in foreign currency - 14.91% per annum.The lowest rates on loans for a period of over 10 years in manats and equaled to 8.35%, in foreign currency - 7.60%.

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