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Review of Deposit Receiving by Azerbaijani Banks
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The news agency Turan
The news agency Turan

Review of Deposit Receiving by Azerbaijani Banks

To date, the annual interest on typical deposits received by commercial banks of Azerbaijan in AZN is between 1% and 16%. As for deposits in US dollars, their annual income is between 0.25% and 10%, and in Euro – between 0.25% and 8%.

 

№

 

 

Commercial bank

 

Monthly interest payment

Interest payment at maturity

AZN

USD

EUR

AZN

USD

EUR

1

Access Bank

14.3%

2.5%

1.5%

15.0%

3.0%

2.0%

2

AFB Bank

7.0%

3.0%

-

-

-

-

3

AG Bank

6.0%

1.0%

4.0%

6.0%

1.0%

4.0%

4

Amrah Bank

12.0%

8.0%

6.0%

13.0%

8.3%

6.5%

5

Ata Bank

11.0%

8.0%

4.0%

12.0%

9.0%

5.0%

6

International Bank of Azerbaijan

8.0%

2.0%

-

8.25%

2.25%

-

7

Azerbaijan Senaye Banki

10.0%

1.0%

0.5%

10.0%

1.0%

0.5%

8

Azer-Turk Bank

6.5%

2.0%

1.0%

7.0%

2.5%

1.5%

9

Bank Avrasiya

9.0%

2.75%

0.5%

10.0%

3.0%

1.0%

10

Bank of Baku

12.0%

3.0%

2.5%

13.0%

3.0%

2.5%

11

Bank BTB

14.0%

5.0%

-

16.0%

6.0%

-

12

Bank Respublika

12.0%

2.0%

-

12.0%

2.5%

-

13

Bank Silk Way

6.0%

5.0%

-

6.0%

5.0%

-

14

Bank Standard

12.0%

4.5%

-

-

5.0%

2.0%

15

Bank VTB (Azerbaijan)

13.0%

5.5%

-

14.0%

6.0%

-

16

Caspian Development Bank

14.0%

3.0%

-

14.0%

3.0%

1.0%

18

Demir Bank

13.2%

6.0%

4.0%

14.0%

7.0%

5.0%

19

Express Bank

12.0%

4.0%

-

12.9%

5.0%

-

20

Gunay Bank

-

-

-

12.0%

6.0%

5.0%

21

Khalg Bank

6.0%

3.0%

1.5%

-

-

-

22

Capital Bank

11.0%

2.0%

0.25%

12.0%

3.0%

0.5%

24

Bank Melli Iran – Baku branch

1.0%

0.75%

-

1.0%

0.75%

-

25

Mugan Bank

12.0%

3.0%

-

13.0%

6.0%

-

26

Nakhchivan Bank

-

-

-

10.0%

10.0%

-

27

NBC Bank

13.0%

7.0%

7.0%

13.5%

8.0%

8.0%

28

Nikoil Bank

13.0%

7.5%

6.0%

14.0%

8.0%

6.5%

29

National Bank of Pakistan – Baku branch

-

-

-

-

-

-

31

Pasha Bank

-

-

-

15.0%

1.5%

0.25%

32

Rabita Bank

12.0%

3.0%

-

13.0%

4.0%

1.5%

33

Turan Bank

13.0%

6.0%

3.5%

13.4%

6.4%

4.0%

34

Uni Bank

13.0%

5.5%

3.0%

14.0%

6.0%

3.0%

35

Yapi Kredi Bank (Azerbaijan)

11.0%

2.0%

2.0%

12.0%

2.5%

2.5%

37

Ziraat Bank (Azerbaijan)

11.5%

0.5%

-

12.0%

1.0%

0.1%

On accumulating deposits the annual revenues in AZN are 4-16% (2-16% last month), 2-8.3% in USD and 0.25-7% in EUR.  

 

№

 

 

Commercial bank

 

Interests in monthly payment

Interests in payment at maturity

AZN

USD

EUR

AZN

USD

EUR

1

Access Bank

-

-

-

12.0%

3.0%

1.5%

2

AFB Bank

-

-

-

-

-

-

3

AG Bank

-

-

-

6.0%

-

-

4

Amrah Bank

-

-

-

11.0%

8.3%

-

5

Ata Bank

-

-

-

10.5%

7.5%

3.5%

6

International Bank of Azerbaijan

-

-

-

-

-

-

7

Azerbaijan Senaye Banki

-

-

-

-

-

-

8

Azer-Turk Bank

-

-

-

-

-

-

9

Bank Avrasiya

-

-

-

7.0%

1.0%

0.25%

10

Bank of Baku

12.0%

-

-

13.0%

-

-

11

Bank BTB

14.0%

5.0%

-

16.0%

6.0%

-

12

Bank Respublika

-

-

-

11.0%

1.25%

-

13

Bank Silk Way

-

-

-

-

-

-

14

Bank Standard

-

-

-

-

-

-

15

Bank VTB (Azerbaijan)

12.0%

3.0%

-

3.0%

2.0%

-

16

Caspian Development Bank

-

-

-

8.0%

2.0%

1.0%

18

Demir Bank

-

-

-

11.0%

4.0%

-

19

Express Bank

11.0%

3.0%

-

12.0%

4.0%

-

20

Gunay Bank

-

-

-

12.0%

6.0%

5.0%

21

Khalg Bank

6.0%

3.0%

1.5%

6.0%

3.0%

1.5%

22

Capital Bank

11.0%

2.0%

0.25%

12.0%

3.0%

0.5%

24

Bank Melli Iran – Baku branch

-

-

-

-

-

-

25

Mugan Bank

-

-

-

-

-

-

26

Nakhchivan Bank

-

-

-

2.0%

2.0%

-

27

NBC Bank

12.0%

7.0%

7.0%

-

-

-

28

Nikoil Bank

13.0%

7.5%

6.0%

14.0%

8.0%

6.5%

29

National Bank of Pakistan – Baku branch

-

-

-

-

-

-

31

Pasha Bank

-

-

-

15.0%

1.5%

0.25%

32

Rabita Bank

12.0%

3.0%

-

-

-

-

33

Turan Bank

-

-

-

-

-

-

34

Uni Bank

-

-

-

7.0%

-

-

35

Yapi Kredi  Bank (Azerbaijan)

-

-

-

-

-

-

37

Ziraat Bank (Azerbaijan)

-

-

-

-

-

-

In comparison with the previous months, several banks increased the annual interest rate of AZN deposits. For example, Access Bank within the framework of the campaign increased the interests on AZN deposits by 2.8-3%, depending on the payment of monthly interest or interest payment at maturity.

Similar measures were taken by the Bank of Baku. The bank raised the revenue from deposits from 11-12% to 12-13%.

Caspian Development Bank did the opposite. It lowered the annual interest rate from 15% to 14%. Deka Bank reduced the interest on AZN deposits by 1-2%.

Banks generally reduced the interests on deposits taken in foreign currency. For example, the income from USD deposits was decreased by 3% by Express Bank, 2% by Para Bank and 1% by Capital Bank.

Annual interest rates of deposits in Euros actually remain stable. At the same time, at several banks (e.g. Turan Bank) the annual income of Euro deposits compared with the previous months increased by 0.4-0.5%.         –0----

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