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Annual interest rate on home-currency loans reaches 17.45% in Azerbaijan

Annual interest rate on home-currency loans reaches 17.45% in Azerbaijan

05 February 2009 14:29 (UTC +04:00)

Baku. Vugar Israfilov â€“ APA-Economics. Average annual interest rate on home-currency loans lent by Azerbaijan-based banks increased by 0.48%, year-on-year, during 2008 to 17.45%, said the National Bank of Azerbaijan.
According to the statement, average interest rate on loans lent to individuals dropped 0.26% to 14.87% per annum while the rate jumped by 1.24% to 21.53% per annum for business customers.
Besides, average interest rate on foreign-currency loans dell 1.74% to 14.52% per annum (12.37% for individuals and 21.52% for legal entities).

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