Baku. Musa Ahmadov - APA-Economics. Personal savings in the banks have increased by 9% since early 2014, said the chairman of the Central Bank of Azerbaijan Elman Rustamov.
Rustamov noted that the deposits of legal entities have also increased and it does not influence resource base of the banks: “The banks have now high liquidity in this issue. This is normal, because the liquidity makes 60% instead of 30%. This policy of banks is understandable. We are pleased that the interests on deposits are single-rate which means low expenditures”.
CB Chairman also said that the interest rates on business loans are in the range of 10.8% and 0.9%: “It’s closer to interest rates of Deutsche Bank. Interest rates on business loans will be single-digit in the near future”.
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