Situation with Deposits Reception in Azerbaijani Banks

In Azerbaijan, the annual interest rates of bank deposits has not yet stabilized. For last month 8 commercial banks again revised their interest on deposits. The changes mainly occurred in the classic deposits. The main trend is a rise in price of manat deposits and reducing the cost of deposits in dollars and euros. Partly, there was a denial of deposits in euros.

Thus, the annual interest rate of classic manat deposits rose in AG Bank from 13-15% to 18%, Bank of Baku – from 13.5-14% to 15%, and Bank BTB - from 14-16% to 15-16%. BTB even raised the annual yield on savings deposits from 14-16% to 15-16%.

In return, the annual interest rate of clasical deposits placed for a period of one year decreased at Azer-Turk Bank from 2-2.5% to 0.4-0.5%, Demir Bank - from 6-7% to 5-6%, and Yapi Kredi Bank (Azerbaijan - from 1.5-2.5% to 1.5-2%.

Azer-Turk Bank stopped taking classic deposits in euros. But Demir Bank reduced annual interest rates on classical deposits in the euro from 4-5% to 3-4%.

Bank Silk Way cut interest rates on classical deposits in dollars. So, now the bank promises an annual dividend of only 1.5% on classic dollar and manat deposits. Although previously in Bank Silk Way the yield on manat credits was 6%, and on dollar credits - 5%.

Khalg Bank reduced annual interest rates on dollar deposits from 1.3% to 1%, and refused to accept this kind of deposits in euros.

The following tables refer to the classical (1) and savings (2) deposits and the interests on them.

 

 

Commercial bank

 

Monthly interest payment

Interest payment at 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

18.0%

3.0%

4.0%

18.0%

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%

0.4%

-

10.5%

0.5%

-

9

Bank Avrasiya

12.0%

2.0%

0.25%

13.0%

2.25%

0.5%

10

Bank of Baku

15.0%

2.0%

2.5%

15.0%

2.0%

2.5%

11

Bank BTB

15.0%

3.0%

-

16.0%

4.0%

-

12

Bank Respublika

12.0%

3.0%

-

12.0%

3.0%

-

13

Bank Silk Way

1.5%

1.5%

-

     1.5%

1.5%

-

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%

5.0%

3.0%

15.0%

6.0%

4.0%

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%

1.0%

15.0%

2.0%

1.0%

32

Ziraat Bank (Azerbaijan)

15.0%

1.0%

-

15.0%

1.0%

-

 

 

 

Commercial bank

 

Monthly interest payment

Interest payment at 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

15.0%

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%

1.0%

-

6.0%

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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