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Deposits Reception in Azerbaijani Banks
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The news agency Turan
The news agency Turan

Deposits Reception in Azerbaijani Banks

Azerbaijani commercial banks continue to raise interest rates on deposits received in manat (AZN). Over the last month, such rates increased at 7 more banks. We are talking about classic and accumulative deposits.

Thus, the annual yield of deposits in manat increased in Ata Bank from 10.5-12% to 13.5-15%, in Azer-Turk Bank from 6.5-7% to 10-10.5%, in Bank Avrasiya from 7-10% to 10-13%, in Bank of Baku from 12-13% to 13.5-14%, in Bank VTB (Azerbaijan) from 12-14% to 15-16%, in Nikoil Bank from 14.5-15% to 15-15.5%, and in Turan Bank from 13-13.4% to 16-16.5%.

Instead, local banks continue to reduce annual interest on deposits received in foreign currency, particularly in US dollars. Over the past month 7 banks declined  the annual yield of dollar deposits: Bank Avrasiya – from 2.75-3% to 2-2.25%, Bank VTB (Azerbaijan) from 4-4.5% to 3-3.5%, Express Bank from 3-5% to 1-2.5%, Capital Bank from 1.5-2% to 1-1.2%, Nikoil Bank from 5.5-6% to 2.5-3%, Uni Bank from 4.5-4.75% to 3-3.1%, and Yapi Kredi Bank (Azerbaijan) from 2.5% to 1.5% (with interest payable monthly).

Among the banks, there are those who have lowered the interest rates of deposits in euros. For example, last month in Bank Avrasiya the annual yield of euro deposits fell from 0.5-1% to 0.25-0.5%. Several banks, for example, Nikoil Bank and Uni Bank, suspended accepting deposits in the single European currency.

 

№

 

 

Commercial bank

 

Interest in monthly payment

Interest in payment at maturity 

AZN

USD

EUR

AZN

USD

EUR

1

Access Bank

14.3%

2.3%

1.3%

15.0%

3.0%

2.0%

2

AFB Bank

7.0%

3.0%

-

-

-

-

3

AG  Bank

13.0%

3.0%

1.0%

15.0%

3.0%

1.0%

4

Amrah Bank

15.0%

7.0%

6.0%

15.0%

7.3%

6.5%

5

Ata Bank

14.0%

8.0%

4.0%

15.0%

9.0%

5.0%

6

International Bank of Azerbaijan

8.0%

2.0%

-

8.25%

2.25%

-

7

Azerbaijan Industrial Bank

12.0%

1.0%

0.5%

12.0%

1.0%

0.5%

8

Azer-Turk Bank

10.0%

2.0%

1.0%

10.5%

2.5%

1.5%

9

Bank Avrasiya

12.0%

2.0%

0.25%

13.0%

2.25%

0.5%

10

Bank of Baku

13.5%

2.0%

2.5%

14.0%

2.0%

2.5%

11

Bank BTB

14.0%

5.0%

-

16.0%

6.0%

-

12

Bank Respublika

12.0%

3.0%

-

12.0%

3.0%

-

13

Bank Silk Way

6.0%

5.0%

-

6.0%

5.0%

-

14

Bank VTB (Azerbaijan)

15.0%

3.0%

-

16.0%

3.5%

-

15

Caspian Development Bank

15.0%

-

-

15.0%

3.0%

-

16

Demir  Bank

14.2%

6.0%

4.0%

15.0%

7.0%

5.0%

17

Express Bank

12.0%

2.0%

-

12.9%

2.5%

-

18

Gunay Bank

-

-

-

12.0%

6.0%

5.0%

19

Khalg Bank

6.0%

2.0%

1.5%

-

-

-

20

Capital Bank

11.0%

1.0%

0.25%

12.0%

1.2%

0.5%

21

Bank Melli Iran – Baku branch

1.0%

0.75%

-

1.0%

0.75%

-

22

Mugan Bank

15.0%

3.0%

-

16.0%

6.0%

-

23

Nakhchivan Bank

-

-

-

10.0%

10.0%

-

24

NBC Bank

15.0%

7.0%

7.0%

16.0%

8.0%

8.0%

25

Nikoil Bank

15.0%

2.5%

-

15.5%

3.0%

-

26

National Bank of Pakistan – Baku branch

-

-

-

-

-

-

27

Pasha Bank

-

-

-

-

-

-

28

Rabita Bank

12.0%

3.0%

-

13.0%

4.0%

1.5%

29

Turan Bank

16.0%

6.0%

3.5%

16.5%

6.4%

4.0%

30

Uni Bank

15.5%

3.0%

-

16.0%

3.1%

-

31

Yapi Kredi Bank(Azerbaijan)

13.0%

1.5%

1.5%

15.0%

2.5%

2.5%

32

Ziraat Bank (Azerbaijan)

11.5%

0.5%

-

12.0%

1.0%

0.1%

 

 

№

 

 

Commercial bank

 

Interest in monthly payment

Interest in payment at maturity

AZN

USD

EUR

AZN

USD

EUR

1

Access Bank

-

-

-

13.0%

3.0%

1.5%

2

AFB Bank

-

-

-

-

-

-

3

AG  Bank

13%

3%

1%

15.0%

3%

1%

4

Amrah Bank

-

-

-

15.0%

7.3%

-

5

Ata Bank

-

-

-

13.5%

7.5%

3.5%

6

International Bank of Azerbaijan

-

-

-

-

-

-

7

Azerbaijan Industrial Bank

-

-

-

-

-

-

8

Azer-Turk Bank

-

-

-

-

-

-

9

Bank Avrasiya

-

-

-

10.0%

1.0%

0.25%

10

Bank of Baku

13.5%

2.0%

2.5%

14.0%

2.0%

2.5%

11

Bank BTB

14.0%

5.0%

-

16.0%

6.0%

-

12

Bank Respublika

-

-

-

11.0%

1.25%

-

13

Bank Silk Way

-

-

-

-

-

-

14

Bank VTB (Azerbaijan)

15.0%

-

-

6.0%

2.0%

-

15

Caspian Development Bank

-

-

-

10.0%

2.0%

1.0%

16

Demir Bank

-

-

-

11.0%

4.0%

-

17

Express Bank

11.0%

1.0%

-

12.0%

1.5%

-

18

Gunay Bank

-

-

-

12.0%

6.0%

5.0%

19

Khalg Bank

6.0%

2.0%

1.5%

6.0%

2.0%

1.5%

20

Capital Bank

11.0%

1.0%

0.25%

12.0%

1.2%

0.5%

21

Bank Melli Iran – Baku branch

-

-

-

-

-

-

22

Mugan Bank

-

-

-

-

-

-

23

Nakhchivan Bank

-

-

-

2.0%

2.0%

-

24

NBC Bank

15.0%

3.0%

3.0%

15.0%

3.0%

3.0%

25

Nikoil Bank

15.0%

2.5%

-

15.5%

3.0%

-

26

National Bank of Pakistan – Baku branch

-

-

-

-

-

-

27

Pasha Bank

-

-

-

-

-

-

28

Rabita Bank

12.0%

3.0%

-

-

-

-

29

Turan Bank

-

-

-

-

-

-

30

Uni Bank

-

-

-

7.0%

-

-

31

Yapi Kredi Bank (Azerbaijan)

-

-

-

-

-

-

32

Ziraat Bank (Azərbaycan)

-

-

-

-

-

-

 

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