After increasing the annual interest rate of manat deposits received in Azerbaijani banks, loans offered in the national currency become more expensive. For example, last month the annual interest rate of consumer loans increased in AFB Bank from 24% to 26%, in Caspian Development Bank - from 19-30% to 24-32%, in Uni Bank – from 30% to 34%, in Azer-Turk Bank - from 18-21% to 20-23%. Azer-Turk Bank lowered from 14-18% to 12-16% dollar-denominated loans granted to individuals.
|
№
|
Commercial bank |
Annual interest on consumer loans |
|
|
AZN |
USD |
||
|
1 |
Access Bank |
29% |
- |
|
2 |
AFB Bank |
26% |
15-17% |
|
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 |
26-28% |
- |
|
11 |
Bank BTB |
30-36% |
30-36% |
|
12 |
Bank Respublika |
29% |
- |
|
13 |
Bank Silk Way |
16-18% |
- |
|
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 |
20-22% |
- |
|
28 |
Rabita Bank |
18-29% |
- |
|
29 |
Turan Bank |
18-29% |
- |
|
30 |
Uni Bank |
34% |
- |
|
31 |
Yapi Kredi Bank (Azerbaijan) |
15-27% |
- |
|
32 |
Ziraat Bank (Azerbaijan) |
26-28% |
- |
Several banks have raised the annual lending rates for business loans issued in manats. For example, Caspian Development Bank raised loans for businesses from 19-21% to 26-28%. It is expected that other banks will take the same measures.
|
№
|
Commercial bank |
Annual interest on business loans |
|
|
AZN |
USD |
||
|
1 |
Access Bank |
28% |
19-22% |
|
2 |
AFB Bank |
24-25% |
24-25% |
|
3 |
AG Bank |
- |
- |
|
4 |
Amrah Bank |
- |
- |
|
5 |
Ata Bank |
- |
- |
|
6 |
International Bank of Azerbaijan |
Personal approach |
- |
|
7 |
Azerbaijan Senaye Bank |
- |
- |
|
8 |
Azer-Turk Bank |
Personal approach |
Personal approach |
|
9 |
Bank Avrasiya |
19-20% |
17-18% |
|
10 |
Bank of Baku |
27-28% |
- |
|
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 |
19-20% |
- |
|
19 |
Khalg Bank |
- |
16-23% |
|
20 |
Capital Bank |
Personal 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 |
Personal approach |
- |
|
28 |
Rabita Bank |
14-27% |
14-27% |
|
29 |
Turan Bank |
Personal approach |
- |
|
30 |
Uni Bank |
14-23% |
14-23% |
|
31 |
Yapi Kredi Bank (Azerbaijan) |
- |
- |
|
32 |
Ziraat Bank (Azerbaijan) |
Over 20% |
Up to 20% |
Of the currently operating 32 banks 23 issue loans. Nine banks – AG Bank, Amrah Bank, Ata Bank, Azerbaijan Senaye Bank, Bank VTB (Azerbaijan), Mugan Bank, Nakhchivan Bank, NBC Bank and Nikoil Bank - stopped lending for already a long time.
Consumer loans are provided by 21 banks. Of these, 5 lend in manats and US dollars (for those who have income in the US currency). The annual interest rate of manat loans ranges between 16-29%, and the index for USD loans is 12-36%.
Business loans are issued by 19 banks, 10 of which provide loans in manats and USD. The annual interest rate on business loans in manats is 14-28%, and the index on USD loans is 14-25%. Sometimes the interest is determined in private. –0---
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