Baku, Azerbaijan, April 10
By Emin Aliyev - Trend:
Azerbaijani banks slightly reduced deposit rates in national and freely convertible currencies as of March 1, 2014, according to a report from the Central Bank of Azerbaijan (CBA).
CBA said the average rate on deposits in manats was 9.38 percent on March 1, 2014 as compared to 9.95 percent on March 1, 2013. The average rate on deposits in foreign currency stood at 9.74 percent compared to 10.31 percent in early March, 2013.
The average rate on deposits of individuals in manat was 9.81 percent as of March 1, 2014, whereas on March 1, 2013 it stood at 10.33 percent.
The average rate on individual clients' deposits in foreign currency totalled 10.24 percent versus 10.7 percent in early March 2013.
In early March 2014, the average rate on deposits of legal entities in manat was 5.63 percent compared to 6.68 percent on March 1, 2013, according to the CBA report.
The average rate on deposits of corporate clients in foreign currency totalled 3.39 percent compared to 4.56 percent in early March 2013.
Translated by E.A.
Edited by C.N.
