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Azerbaijan banks raises interest rates on loans

08 October 2008 14:34 (UTC +04:00)

The National Bank of Azerbaijan said average loan interest rates rose 1.31 percentage points from 16.91 percent last year to 18.22 percent and the rise was 2.49 percentage points from 17.16 percent to 14.67 percent for loans in foreign currencies.
The highest interest rate hike was seen in loans lent to individuals.
The rates rose 1.89 percentage points from 19.36 percent to 21.25 percent over the past year while the rise was 0.57 percentage points from 15.43 percent to 16% for legal entities.
Interest rates on loans in foreign currencies fell 2.81 percentage points to 11.92 percent for individuals and went down 0.26 percentage points to 21.40 percent for legal entities.

	*01.09.2008*			*01.09.2007*
	*Average interest rate*	*Legal entities*	*Individuals*	*Average interest rate*	*Legal entities*	*Individuals*
*In manat*	18.22	16.00	21.25	16.91	15.43	19.36
*In foreign currencies*	14.67	11.92	21.40	17.16	14.73	21.66