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Azerbaijan-based banks see interest spread drop

Azerbaijan-based banks see interest spread drop

31 July 2009 11:19 (UTC +04:00)

Baku. Vahab Rzayevâ€“ APA-Economics. As of July 1, the interest spread for Azerbaijan-based banks stood at 5.9%, down 1.2 percentage point from a year ago and down 0.7 percentage points from early this year.

The Central Bank of Azerbaijan said the interest spread was 6.6% at the end of 2008, 5.4% at the end of 2007 and 6.1% in 2006.

Interest spread is the difference between the average lending rate and the average borrowing rate for a bank or other financial institution (Interest income Ã· interest earning assets) - (interest expense Ã· interest bearing liabilities).

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