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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

Over the last month 4 commercial banks of Azerbaijan changed their interest rates. The changes concern both classical and savings deposits and a rise in price of manat and dollar-denominated loans.

So, the largest bank of the country, Interbank increased annual interest rates on deposits from 2-2.5% to 3-3.25% for 2016, and Nikoil Bank -  from 2.5-3% to 3-3.5 %. Bank Respublika for the year increased profitability of AZN classical deposits from 12% to 15%, while the yield on savings deposits increased from 11% to 14%.

The most dramatic changes in the conditions of reception of deposits were made by the Baku branch of Bank Melli Iran. This branch ceased accepting deposits in US dollars, and the annual interest rate of deposits in the national currency increased from 1% to 8.10%.

This shows that the Iranian bank brought its activities in line with the situation in the market and feels a need for manat deposits.

The first of the following tables represents annual interest of classical deposits, and the second table represents annual interest of savings deposits.

 

№

 

 

Commercial bank

 

Monthly interest payment

Interest 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

18.0%

3.0%

4.0%

18.0%

3.0%

4.0%

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%

3.0%

-

8.25%

3.25%

-

7

Azerbaijan Senaye Bank

12.0%

1.0%

0.5%

12.0%

1.0%

0.5%

8

Azer-Turk Bank

10.0%

0.4%

-

10.5%

0.5%

-

9

Bank Avrasiya

12.0%

2.0%

0.25%

13.0%

2.25%

0.5%

10

Bank of Baku

15.0%

2.0%

2.5%

15.0%

2.0%

2.5%

11

Bank BTB

15.0%

3.0%

-

16.0%

4.0%

-

12

Bank Respublika

15.0%

3.0%

-

15.0%

3.0%

-

13

Bank Silk Way

1.5%

1.5%

-

     1.5%

1.5%

-

14

Bank VTB (Azerbaijan)

15.0%

2.0%

-

16.0%

2.0%

-

15

Caspian Development Bank

15.0%

-

-

15.0%

3.0%

-

16

Demir Bank

14.2%

5.0%

3.0%

15.0%

6.0%

4.0%

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%

1.0%

0.5%

-

-

-

20

Capital Bank

11.0%

0.4%

0.25%

12.0%

0.5%

0.5%

21

Bank Melli Iran – Basku branch

8.0%

-

-

10.0%

-

-

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%

3.0%

-

15.5%

3.5%

-

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%

4.0%

1.5%

16.5%

4.5%

2.0%

30

Uni Bank

15.5%

3.0%

-

16.0%

3.1%

-

31

Yapi Kredi Bank (Azerbaijan)

13.0%

1.5%

1.0%

15.0%

2.0%

1.0%

32

Ziraat Bank (Azerbaijan)”

15.0%

1.0%

-

15.0%

1.0%

-

 

 

№

 

Commercial bank

 

Monthly interest payment

Interest 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 Senaye Bank

-

-

-

-

-

-

8

Azer-Turk Bank

-

-

-

-

-

-

9

Bank Avrasiya

-

-

-

10.0%

1.0%

0.25%

10

Bank of Baku

15.0%

2.0%

2.5%

15.0%

2.0%

2.5%

11

Bank BTB

15.0%

3.0%

-

16.0%

4.0%

-

12

Bank Respublika

-

-

-

14.0%

1.25%

-

13

Bank Silk Way

-

-

-

-

-

-

14

Bank VTB (Azerbaijan)

15.0%

-

-

6.0%

0.5%

-

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%

1.0%

-

6.0%

1.0%

-

20

Capital Bank

11.0%

0.4%

0.25%

12.0%

0.5%

0.5%

21

Bank Melli Iran – Baku branch

-

-

-

-

-

-

22

Mugan Bank

-

-

-

-

-

-

23

Nakhchivan Bank

-

-

-

2.0%

2.0%

-

24

NBC Bank

15.0%

7.0%

7.0%

-

-

-

25

Nikoil Bank

15.0%

3.0%

-

15.5%

3.5%

-

26

National Bank of Pakistan – Baku branch

-

-

-

-

-

-

27

Pasha Bank

-

-

-

-

-

-

28

Rabita Bank

12.0%

3.0%

-

-

-

-

29

Turan Bank

-

-

-

-

-

-

30

Uni Bank

-

-

-

13.0%

2%

-

31

Yapi Kredi Bank (Azerbaijan)

-

-

-

-

-

-

32

Ziraat Bank (Azerbaijan)

-

-

-

-

-

-

 

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