Credit is more expensive than deposit in Azerbaijan

Credit is more expensive than deposit in Azerbaijan
# 08 April 2011 10:41 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of March 1, 2011, the annual interest rates on credits given by Azerbaijan-based banks made 13.71% on legal entities, 19.67% on individuals.

Central Bank of Azerbaijan says the average interest rate on deposits from legal entities was 6.43%, from individuals – 11.79%.

Thus, the credits given to legal entities exceeds their deposits by 2.1 times, credits given to individuals exceeds their deposits by 1.7 times. The interest rates of credits on average performance are more 1.5 times than deposits’ interest rates.
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