Situation with Lending in Banks of Azerbaijan

The situation with credit interest was not stable in the banks of Azerbaijan in September. Last month there were changes in interest rates for both consumer and business loans. In several banks, interest rates increased, and in several cases, it was on the contrary.

E.g., Access Bank changed the annual interest from 24-28% to 28%, and the annual interest of construction and repair loans changed from 25-28% to 28%.

Express Bank reduced annual interest rates of pawn loans from 36-38% to 33-36%.

In the Baku branch of Bank Melli Iran, the annual interest on cash loans decreased from 29% to 22-26%, on auto loans from 26% to 18-25%, and on pawn loans from 25% to 21%.

In Rabita Bank the annual interest on cash loans was reduced from 30-32% to 26-30%, and on pawn loans it was raised from 24-29% to 24-36%. The bank restored auto loans from 18-22% and mortgage loans from 24-26%.

Bank VTB Azerbaijan began to issue cash loans at 28% per annum to those who receive salaries on their plastic cards.

Commercial bankAnnual interest for consumer loans (AZN)
CashAutoPawnMortgageRepair / Construction
1Access Bank29%25-28%-28%28%
2AFB Bank26-30%----
3AG Bank-----
4Amrah Bank-----
5Ata Bank-----
6International Bank of Azerbaijan (IBA)27-29%----
7Azerbaijan Senaye Bank27%--27%-
8Azer-Turk Bank22-26%----
9Bank AvrasiyaIndividuallyIndividually---
10Bank of Baku23-32%----
11Bank BTB32-38%25-27%34%23%-
12Bank Respublika28%-26-36%--
13Bank Silk Way16-18%----
14Bank VTB Azerbaijan28%----
15Demir Bank26%----
16Express Bank28-30%-33-36%22-26%-
17Gunay Bank24%----
18Khalg Bank-----
19Capital Bank29%----
20Bank Melli Iran - Baku Branch22-26%18-25%26%21%-
21Mugan Bank-----
22Nakhchivan Bank17-18%16-18%-11%-
23NBC Bank23-32%10-26%---
24Nikoil Bank25-31%16-2227-28%20%-
25National Bank of Pakistan - Baku Branch-----
26Pasha BankIndividually----
27Rabita Bank26-30%18-22%24-36%24-26%
28Turan Bank17-29%18-21%29-36%-20-24%
29Uni Bank23-29%----
30Yapi Kredi Bank Azerbaijan28%23-24%-19-20%-
31Ziraat Bank AzerbaijanIndividuallyIn dividually-Individually-

Commercial bankAnnual interest for consumer loans (USD)
CashAutoPawnMortgageRepair / Construction
1AFB Bank13-17%----
2Azer-Turk Bank14-16%----
3Bank BTB-13-15%-23%-

As for business loans, in Bank of Baku the annual interest rates of macro loans decreased from 23-28% to 23-25%.

Demir Bank also changed the annual interest of micro loans from 25-30% to 26%, and on macro loans from 16-23% to 16%.

At NBC Bank, the annual interest rate of micro loans increased from 21-23% to 27-29%, and the annual interest rate of macro loans increased from 20-24% to 21-25%.

Commercial bankAnnual interest for business loans
Micro loansMacro loans
1Access Bank28%19-22%28%19-22%
2AFB Bank20-24%-18-30%8-16%
3AG Bank----
4Amrah Bank----
5Ata Bank----
7Azerbaijan Senaye Bank---10-12%
8Azer-Turk BankIndividuallyIndividuallyIndividuallyIndividually
9Bank Avrasiya----
10Bank of Baku26-32%-23-25%
11Bank BTB16%16%IndividuallyIndividually
12Bank Respublika26-28%15%IndividuallyIndividually
13Bank Silk Way----
14Bank VTB Azerbaijan----
15Demir Bank26%-16%-
16Express Bank25-30%-20-25%-
17Gunay Bank----
18Khalg Bank---16-23%
19Capital Bank----
20Bank Melli Iran - Baku Branch21-23%-21-23%-
21Mugan Bank----
22Nakhchivan Bank15%---
23NBC Bank27-29%-21-25%-
24Nikoil Bank20%10%20%10%
25National Bank of Pakistan - Baku Branch16-17%-16-17%-
26Pasha BankIndividuallyIndividuallyIndividuallyIndividually
27Rabita Bank25-27%-22-26%14-18%
28Turan Bank24-26%-FərdiFərdi
29Uni Bank28%-14%14%
30Yapi Kredi Bank Azerbaijan----
31Ziraat Bank AzerbaijanIndividuallyIndividuallyIndividuallyIndividually

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