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Situation with Deposits in Azerbaijani Banks
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The news agency Turan
The news agency Turan

Situation with Deposits in Azerbaijani Banks

Over the past month seven commercial banks of Azerbaijan - Bank BTB, Bank VTB (Azerbaijan), Khalg Bank, Capital Bank, NBC Bank, Turan Bank and Ziraat Bank (Azerbaijan) - changed the annual interest rates. The changes were made both for classical and savings deposits - they rose and fell.

So, Bank BTB, taking into account the placement during the year, reduced the annual interest rate of dollar deposits from 5-6% to 3-4%. Bank VTB (Azerbaijan) reduced profitability of classical dollar deposits from 3-3.5% to 2%, and the yield of savings dollar deposits from 2% to 0.5%. Khalg Bank lowered the annual interest rates of classical dollar deposits from 2% to 1%, classical Euro deposits - from 1.5% to 0.5%, savings dollar deposits from 2% to 1.3%, savings Euro deposits - from 1.5% to 1%. Capital Bank lowered the yield of dollar deposits from 1-1.2% to 0.400%. NBC Bank increased the annual interest rate of dollar and Euro loans from 3% to 7%. Turan Bank reduced profitability of savings dollar deposits from 6.6% to 4-4.5%, and the yield of savings Euro deposits - from 3.5% to 1.5-2%. Ziraat Bank (Azerbaijan) increased the annual interest rate of classical manat deposits from 11.5-12% to 15%. This bank raised the cost of the monthly interest rate of classical dollar deposits from 0.5% to 1%. The bank refused of placing deposits in Euros, which it received just at 0.1%.

Table 1 presented below shows the interests on classical deposits, and Table 2 shows the interests on savings deposits.

 

№

 

 

Commercial banks

 

Interests paid monthly

Interests paid on 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

13.0%

3.0%

3.0%

15.0%

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%

2.0%

-

8.25%

2.25%

-

7

Azerbaijan Senaye Bank

12.0%

1.0%

0.5%

12.0%

1.0%

0.5%

8

Azer-Turk Bank

10.0%

2.0%

1.0%

10.5%

2.5%

1.5%

9

Bank Avrasiya

12.0%

2.0%

0.25%

13.0%

2.25%

0.5%

10

Bank of Baku

13.5%

2.0%

2.5%

14.0%

2.0%

2.5%

11

Bank BTB

14.0%

3.0%

-

16.0%

4.0%

-

12

Bank Respublika

12.0%

3.0%

-

12.0%

3.0%

-

13

Bank Silk Way

6.0%

5.0%

-

6.0%

5.0%

-

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%

6.0%

4.0%

15.0%

7.0%

5.0%

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 – Baku branch

1.0%

0.75%

-

1.0%

0.75%

-

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%

2.5%

-

15.5%

3.0%

-

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%

1.5%

15.0%

2.5%

2.5%

32

Ziraat Bank (Azerbaijan)

15.0%

1.0%

-

15.0%

1.0%

-

 

 

№

 

 

Commercial banks

 

Interests paid monthly

Interests paid on 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

13.5%

2.0%

2.5%

14.0%

2.0%

2.5%

11

Bank BTB

14.0%

3.0%

-

16.0%

4.0%

-

12

Bank Respublika

-

-

-

11.0%

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%

1.3%

1.0%

6.0%

1.3%

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%

2.5%

-

15.5%

3.0%

-

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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