Over the last month from 8 to 32 commercial banks changed their annual interest rates. They are AFB Bank, Bank of Baku, Bank Silk Way, Pasha Bank, Rabita Bank, Uni Bank, Yapi Kredi Bank (Azerbaijan) and Ziraat Bank (Azerbaijan). The changes mainly occurred in consumer loans, both in the direction of a rise in price, and vice versa.
So, AFB Bank increased the annual interest rates of consumer loans from 26% to 26-30% in AZN and from 15-17% to 16-18% in dollars. In return, the annual interest rates of business loans were reduced in AZN from 24-25% to 10-16%, and in US dollars from 24-25% to 20-25%.
Giving loans only in the national currency, Bank of Baku increased the annual interest rates of loans for individuals from 26-28% to 26-32%, and for entrepreneurs from 27-28% to 27-32%.
Annual interest rates of loans to households changed in Bank Silk Way from 16-18% to 16-25%, Pasha Bank (issued only to employees of the agencies within Pasha Holding) from 20-22 to 24% -26%, Uni Bank from 34% to 23-30%, Rabita Bank from 18-29% to 17-29%, Yapi Kredi Bank (Azerbaijan) from 15-27% to 15-28%, Ziraat Bank (Azerbaijan) from 26-28% to 24-27%.
Thus, local banks, as well as a month ago, issue consumer loans in the manat with annual 16-30% and in dollars (for those who have income in dollars) with 12-36%. In some cases, interest rates are determined in a personal manner, and business loans in AZN are at 14-32% per annum (previously 14-27%), while USD loans are at 10-27% (previously 14-27%).
Currently, 16 of the 32 banks issue consumer loans only in AZN, and 5 banks issue them both in AZN and in foreign currency. The number of banks issuing business loans only in AZN is 6 (it had been 7), and the number of those issuing them only in dollars is 2 (used to be 1). The number of banks issuing loans to entrepreneurs in both currencies is 10.
Thus, as a month ago, the number of banks issuing consumer loans was 21, and the number of those issuing business loans was 18.
Nine banks – AG Bank, Amrah Bank, Ata Bank, Azerbaijan Senaye Bank, Bank VTB (Azerbaijan), Mugan Bank, Nakhchivan Bank, NBC Bank and Nikoil Bank - do not give out any loans .
|
№
|
Commercial banks
|
Annual interest rate 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 |
19-23% |
- |
|
7 |
Azerbaijan Senaye Bank |
- |
- |
|
8 |
Azer-Turk Bank |
20-23% |
12-16% |
|
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 |
16-25% |
- |
|
14 |
Bank VTB (Azerbaijan) |
- |
- |
|
15 |
Caspian Development Bank |
24-32% |
- |
|
16 |
Demir Bank |
16-29% |
- |
|
17 |
Express Bank |
28-30% |
- |
|
18 |
Gunay Bank |
24% |
20-22% |
|
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 |
24-26% |
- |
|
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% |
- |
|
№
|
Commercial banks
|
Annual interest rate 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 |
19-20% |
17-18% |
|
10 |
Bank of Baku |
27-32% |
- |
|
11 |
Bank BTB |
At least 20% |
At least 16% |
|
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 |
- |
- |
|
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 |
azı 22% |
|
|
30 |
Uni Bank |
14-23% |
14-23% |
|
31 |
Yapi Kredi Bank (Azerbaijan) |
- |
- |
|
32 |
Ziraat Bank (Azerbaijan) |
Individual approach |
Individual approach |
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