Banks in Azerbaijan tighten credits issued in foreign currency

Banks in Azerbaijan tighten credits issued in foreign currency
  • Clock-gray 11:20
  • calendar-gray 02 December 2019

The average interest rate for the credits issued in foreign currency in Azerbaijan amounted to 6.69% as of November 1 of this year, "APA-Economics" reports citing Central Bank of Azerbaijan (CBA).

The interest rate has increased by 0.05 percentage points as compared with October 1. Thus, the reduction in the interest rate for the credits issued in AZN which started at the beginning of the year and has been continuing up to now has been replaced with growth. The average interest rate for the credits issued to legal entities has increased from 5.51% to 5.54%, and for the credits issued to individuals - from 11.36% to 11.61%. During the reporting period, the average interest rate for the credits issued in AZN equaled to 14.34% and remained unchanged.

Remind that the average interest rate for credits issued in AZN was 14.24% and for credits issued in foreign currency – 8.06% as of January 1, 2019.

APA-Economics

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