12:09 - 25.07.2024
July 25, Fineko/abc.az. The average interest rate on newly-given business loans in national currency in Azerbaijan has increased to maximum since November 2014.
ABC.AZ reports with reference to the Central Bank that the average interest rate on new loans to companies in national currency in June 2024 was 10.46% (10.40% in the previous month and 10.14% at the beginning of the year).
The last time the average for new loans in manats was recorded at this peak was in November 2014, and, according to the study, the average interest on loans at that time was 10.64%.
In recent years, business loans have grown to the equivalent of 13.87 billion manats, which is a new historical peak. This means an increase of 10% since the beginning of this year and 19% over the past year.
Average rates on new loans to enterprises in foreign currency rose to the highest since November 2019, making up 5.45%.
Interest on deposits in manats attracted from legal entities also continues to grow. Thus, as of the beginning of July, the average annual interest on deposits of attracted legal entities made up 6.37%, which is the highest figure in the last 9 years.
During this time, the average interest rate on new loans to individuals, on the contrary, has fallen. The average annual interest on new loans to individuals in manats amounted to 16.14%. This is the lowest number recorded so far.
