We should add two more to the commercial banks of Azerbaijan not issuing credits. They are Bank Silk Way issuing only consumer loans and Gunay Bank issuing both consumer and business loans. The financial institutions account for the termination of lending by the end of the calendar year, noting that the process will resume from the beginning of 2017.
Thus, there are 11 banks not issuing loans now. The other 9 banks have long stopped issuing loans. They are AG Bank, Amrah Bank, Ata Bank, Azerbaijan Senaye Bank, Bank VTB (Azerbaijan), Mugan Bank, Nakhchivan Bank, NBC Bank and Nikoil Bank.
Thus, 21 banks issue loans in Azerbaijan now. Of them, Bank Respublika only issues consumer loans, Khalg Bank and the Baku branch of the National Bank of Pakistan only issues business loans, while 18 others issue both types.
Annual interest rates of consumer loans in banks vary between 15-36% in AZN and 14-36% in USD. Over the last month two banks, the state-owned International Bank of Azerbaijan and Azer-Turk Bank changed the annual interest rates of consumer loans. E.g. loans issued by IBA in AZN for household purposes rose from 19-23% to 26-29%. Azer-Turk Bank raised them from 20-23% to 24-26%. Azer-Turk Bank also raised interest rates on USD loans from 12-16% to 14-16%.
|
№
|
Commercial bank
|
Annual interest rates on consumer loans |
|
|
AZN |
USD |
||
|
1 |
Access Bank |
24-29% |
- |
|
2 |
AFB Bank |
26-30% |
16-18% |
|
3 |
AG Bank |
- |
- |
|
4 |
Amrah Bank |
- |
- |
|
5 |
Ata Bank |
- |
- |
|
6 |
International Bank of Azerbaijan |
26-29% |
- |
|
7 |
Azerbaijan Senaye Bank |
- |
- |
|
8 |
Azer-Turk Bank |
24-26% |
14-16% |
|
9 |
Bank Avrasiya |
27% |
20% |
|
10 |
Bank of Baku |
26-32% |
- |
|
11 |
Bank BTB |
30-36% |
30-36% |
|
12 |
Bank Respublika |
29% |
- |
|
13 |
Bank Silk Way |
- |
- |
|
14 |
Bank VTB (Azerbaijan) |
- |
- |
|
15 |
Caspian Development Bank |
24-32% |
- |
|
16 |
Demir Bank |
16-29% |
- |
|
17 |
Express Bank |
22-36% |
- |
|
18 |
Gunay Bank |
- |
- |
|
19 |
Khalg Bank |
- |
- |
|
20 |
Capital Bank |
29% |
- |
|
21 |
Bank Melli Iran – Baku branch |
19-25% |
- |
|
22 |
Mugan Bank |
- |
- |
|
23 |
Nakhchivan Bank |
- |
- |
|
24 |
NBC Bank |
- |
- |
|
25 |
Nikoil Bank |
- |
- |
|
26 |
National Bank of Pakistan – Baku branch |
- |
- |
|
27 |
Pasha Bank |
22-28% |
- |
|
28 |
Rabita Bank |
17-29% |
- |
|
29 |
Turan Bank |
18-29% |
- |
|
30 |
Uni Bank |
23-30% |
- |
|
31 |
Yapi Kredi Bank (Azerbaijan) |
15-28% |
- |
|
32 |
Ziraat Bank (Azerbaijan) |
24-27% |
- |
Annual interest rates on bank business loans in AZN were between 14-32% and in USD they were between 10-28%. Over the last month four banks made changes in the annual interest rates.
Thus, in the Bank of Baku loans rose from 27-32% to 30-32%. Bank BTB raised the minimum annual interest rate on loans to entrepreneurs in AZN from 20% to 22%, and reduced the index on USD loans from 16% to 13%. Turan Bank raised the minimum interest on dollar loans issued to entrepreneurs from 22% to 24%, Uni Bank increased the maximum interest on loans issued to entrepreneurs in both currencies from 23% to 28%. Express Bank that announced a break in financing entrepreneurs started issuing business loans under 21-30% annual.
|
№
|
Commercial bank
|
Annual interest rates on business loans |
|
|
AZN |
USD |
||
|
1 |
Access Bank |
28% |
19-22% |
|
2 |
AFB Bank |
20-25% |
10-16% |
|
3 |
AG Bank |
- |
- |
|
4 |
Amrah Bank |
- |
- |
|
5 |
Ata Bank |
- |
- |
|
6 |
International Bank of Azerbaijan |
Individual approach |
- |
|
7 |
Azerbaijan Senaye Bank |
- |
- |
|
8 |
Azer-Turk Bank |
Individual approach |
Individual approach |
|
9 |
Bank Avrasiya |
Individual approach |
Individual approach |
|
10 |
Bank of Baku |
30-32% |
- |
|
11 |
Bank BTB |
At least 22% |
At least 13% |
|
12 |
Bank Respublika |
- |
- |
|
13 |
Bank Silk Way |
- |
- |
|
14 |
Bank VTB (Azerbaijan) |
- |
- |
|
15 |
Caspian Development Bank |
26-28% |
16-18% |
|
16 |
Demir Bank |
20-24% |
16-22% |
|
17 |
Express Bank |
21-30% |
- |
|
18 |
Gunay Bank |
- |
- |
|
19 |
Khalg Bank |
- |
16-23% |
|
20 |
Capital Bank |
Individual approach |
- |
|
21 |
Bank Melli Iran – Baku branch |
18% |
- |
|
22 |
Mugan Bank |
- |
- |
|
23 |
Nakhchivan Bank” |
- |
- |
|
24 |
NBC Bank |
- |
- |
|
25 |
Nikoil Bank |
- |
- |
|
26 |
National Bank of Pakistan – Baku branch |
16-17% |
- |
|
27 |
Pasha Bank” |
Individual approach |
- |
|
28 |
Rabita Bank |
14-27% |
14-27% |
|
29 |
Turan Bank |
- |
At least 24% |
|
30 |
Uni Bank |
14-28% |
14-28% |
|
31 |
Yapi Kredi Bank (Azerbaijan) |
Individual approach |
Individual approach |
|
32 |
Ziraat Bank (Azerbaijan) |
Individual approach |
Individual approach |
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