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Situation with Lending at Banks in Azerbaijan
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The news agency Turan
The news agency Turan

Situation with Lending at Banks in Azerbaijan

After repeated devaluation of the manat, which took place December 21, 2015, the majority of Azerbaijani banks no longer lend. Even more reduced the number of banks issuing loans after the decision of the Financial Market Control House as of April 5 this year, banning issue of consumer loans in US dollars.

80-90% of funds raised by banks is foreign currency. For this reason, banks are not interested in the issue of consumer loans in manats. To avoid converting dollar loans in manats, banks have suspended the process of granting loans, taking the wait and see attitude.

Currently, 12 of the 37 banks provide loans to individuals in manats at the expense of their own funds.

The minimum annual credit to households is allocated in the amount of 15% and the maximum is 29%.

 

№

 

 

Commercial bank

Annual interest on consumer loans   

AZN

USD

1

Accessbank

-

-

2

AFB Bank

-

-

3

AG Bank

-

-

4

Amrahbank

-

-

5

Atabank

-

-

6

International Bank of Azerbaijan

19-23%

-

7

Azerbaijan Senaye Bank

-

-

8

Azer-Turk Bank

15-18%

-

9

Bank Avrasiya

26-27%

-

10

Bank of Baku

-

-

11

Bank BTB

-

-

12

Bank Respublika

-

-

13

Bank Silk Way

16-25%

-

14

Bank Standard

-

-

15

Bank VTB (Azerbaijan)

-

-

16

Caspian Development Bank

24%

-

17

Dekabank

-

-

18

Demirbank

27-29%

-

19

Expressbank

-

-

20

Gunaybank

-

-

21

Khalg Bank

-

-

22

Capital Bank

27-28%

-

23

Credo Bank

-

-

24

Bank Melli Iran – Baku Branch

19-25%

-

25

Muganbank

-

-

26

Nakhchivanbank

-

-

27

NBC Bank

-

-

28

Nikoil Bank

-

-

29

National Bank of Pakistan – Baku Branch

-

-

30

Parabank

28-29%

-

31

Pasha Bank

-

-

32

Rabitabank

-

-

33

Turanbank

27%

-

34

Unibank

25-28%

-

35

Yapi Credi Bank (Azerbaijan)

-

-

36

Zaminbank

-

-

37

Ziraat Bank (Azerbaijan)

23-26%

-

The situation with business lending is somewhat different, as these loans can be issued in dollars. Currently, 13 of the 37 banks finance business. Three of them give loans to entrepreneurs only in manats, and four - only in dollars. Business loans in both currencies are issued by 6 banks. Annual interest on this type of crediting varies between 16 and 27 percent.

 

№

 

 

Commercial bank

Annual interest on business loans  

AZN

USD

1

Accessbank

-

20-25%

2

AFB Bank

-

-

3

AG Bank

-

-

4

Amrahbank

-

-

5

Atabank

-

-

6

International Bank of Azerbaijan

Personal approach

-

7

Azerbaijan Senaye Bank

-

-

8

Azer-Turk Bank

18-20%

-

9

Bank Avrasiya

20-23%

17-20%

10

Bank of Baku

-

-

11

Bank BTB

-

-

12

Bank Respublika

-

-

13

Bank Silk Way

-

-

14

Bank Standard

-

-

15

Bank VTB (Azerbaijan)

-

-

16

Caspian Development Bank

20%

18%

17

Dekabank

-

-

18

Demirbank

21-23%

20-22%

19

Expressbank

-

-

20

Gunaybank

-

-

21

Khalg Bank

-

-

22

Capital Bank

Personal approach

Personal approach

23

Credo Bank

-

-

24

Bank Melli Iran - Baku Branch

19-25%

-

25

Muganbank

-

-

26

Nakhchivanbank

-

-

27

NBC Bank

-

-

28

Nikoil Bank

-

-

29

National Bank of Pakistan – Baku Branch

-

-

30

Parabank

-

24-27%

31

Pasha Bank

16%

16%

32

Rabitabank

-

21-23%

33

Turanbank

-

20%

34

Unibank

-

-

35

Yapi Credi Bank (Azerbaijan)

-

-

36

Zaminbank

-

-

37

Ziraat Bank (Azerbaijan)

Personal approach

Personal approach

 

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