Reduction of discount rate by Central Bank of Azerbaijan affected PASHA Bank’s interest rates on loans and deposits, Taleh Kazimov, CEO and chairman at Pasha Bank, said on May 1.
According to him, PASHA Bank also reduced interest rates: ‘This is a good tendency. Another reason for reduction of interest rates is increase of non-cash operations. Interest rates on loans fell to 14-16% from 18-20, on deposits dropped to 7-8% from 12%’.
Kazimov added that the bank has no plans to make investments in foreign banks.
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