Currently, 21 out of the 33 Azerbaijani banks issue consumer loans. In comparison with August, there is no difference in the number of banks issuing loans to individuals.
Sixteen out of the 21 banks lend only in manats, while five banks lend in manats and US dollars. They are Azer-Turk Bank, Bank Avrasiya, Bank BTB, AFB Bank and Gunay Bank. The first three banks lent in USD in the previous month. The last two issue loans in foreign currency, beginning from this month. Dollar loans are meant for those who are not paid their salaries in manats.
The annual interest rate for loans to ordinary citizens is 16-36% in AZN and 14-36% in USD. In comparison with August there are no significant changes in the interest. In only one bank, Yapi Kredi Bank (Azerbaijan), loans have risen by 1-2%. Several banks have made changes to the high and low levels of interest rates. For example, Bank of Baku issued consumer loans at 24-29% per annum last month, but now the figure is 26-28%.
|
№
|
Commercial banks
|
Annual interest rate on consumer loans |
|
|
In AZN |
In USD |
||
|
1 |
Access Bank |
29% |
- |
|
2 |
AFB Bank |
24% |
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 |
18-21% |
14-18% |
|
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 Standard |
- |
- |
|
15 |
Bank VTB (Azerbaijan) |
- |
- |
|
16 |
Caspian Development Bank |
19-30% |
- |
|
17 |
Demir Bank |
27-30% |
- |
|
18 |
Express Bank |
28-30% |
- |
|
19 |
Gunay Bank |
24% |
20% |
|
20 |
Khalg Bank |
- |
- |
|
21 |
Capital Bank |
29% |
- |
|
22 |
Bank Melli Iran – Baku branch |
19-25% |
- |
|
23 |
Mugan Bank |
- |
- |
|
24 |
Nakhchivan Bank |
- |
- |
|
25 |
NBC Bank |
- |
- |
|
26 |
Nikoil Bank |
- |
- |
|
27 |
National Bank of Pakistan – Baku branch |
- |
- |
|
28 |
Pasha Bank |
20-22% |
- |
|
29 |
Rabita Bank |
27-28% |
- |
|
30 |
Turan Bank |
29% |
- |
|
31 |
Uni Bank |
30% |
- |
|
32 |
Yapi Kredi Bank (Azerbaijan) |
27% |
- |
|
33 |
Ziraat Bank (Azerbaijan) |
26-28% |
- |
Nineteen banks give out business loans. In comparison with August, there were no changes in the number of banks that invest entrepreneurs.
Among the banks financing the projects of entrepreneurs, eight give loans only in manats, two (Khalg Bank and Turan Bank) give them only in dollars and nine give them in both currencies. The annual interest rate on loans is 14-28% in AZN and 14-27% in dollars.
Over the past month, several banks made changes in terms of interest. For example, last month at Bank BTB the annual interest rate on loans, regardless of whether they were issued in manats or US dollars, ranged from 18% to 25%. Currently, domestic currency debts are paid at the 23% rate, while foreign currency debts are paid at least at the rate of 16%. Demir Bank reduced the lower level of annual interest from 21 to 16%. Bank Respublika stopped lending business this month, while Turan Bank on the contrary restored it.
|
№
|
Commercial banks
|
Annual interest rate on business loans |
|
|
In AZN |
In USD |
||
|
1 |
Access Bank |
28% |
22% |
|
2 |
AFB Bank |
Individual approach |
Individual approach |
|
3 |
AG Bank |
- |
- |
|
4 |
Amrah Bank |
- |
- |
|
5 |
Ata Bank |
- |
- |
|
6 |
International Bank of Azerbaijan |
Individual approach |
- |
|
7 |
Azerbaijan Senaye Bank |
- |
- |
|
8 |
Azer-Turk Bank |
Individual approach |
Individual approach |
|
9 |
Bank Avrasiya |
20-21% |
- |
|
10 |
Bank of Baku |
26-28% |
- |
|
11 |
Bank BTB |
At least 23% |
At least 16% |
|
12 |
Bank Respublika |
- |
- |
|
13 |
Bank Silk Way |
- |
- |
|
14 |
Bank Standard |
- |
- |
|
15 |
Bank VTB (Azerbaijan) |
- |
- |
|
16 |
Caspian Development Bank |
19-21% |
16-18% |
|
17 |
Demir Bank |
16-23% |
- |
|
18 |
Express Bank |
- |
- |
|
19 |
Gunay Bank |
Individual approach |
Individual approach |
|
20 |
Khalg Bank |
- |
16-23% |
|
21 |
Capital Bank |
Individual approach |
- |
|
22 |
Bank Melli Iran – Baku branch |
18% |
- |
|
23 |
Mugan Bank |
- |
- |
|
24 |
Nakhchivan Bank |
- |
- |
|
25 |
NBC Bank |
- |
- |
|
26 |
Nikoil Bank |
- |
- |
|
27 |
National Bank of Pakistan – Baku branch |
16-17% |
- |
|
28 |
Pasha Bank |
16% |
- |
|
29 |
Rabita Bank |
18-27% |
18-27% |
|
30 |
Turan Bank |
- |
18-20% |
|
31 |
Uni Bank |
14-23% |
14-23% |
|
32 |
Yapi Kredi Bank (Azerbaijan) |
- |
- |
|
33 |
Ziraat Bank (Azerbaijan) |
Over 20% |
Up to 20% |
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