Situation with Lending in Banks of Azerbaijan

In December 2024, the situation regarding deposit acceptance in three banks of Azerbaijan changed. The banks revised the interest rates for deposits held in manat and US dollars. Thus, the annual interest rate for deposits in the national currency (manat) for one year was changed as follows: AFBBank- from 9-9.5% to 11-12%; Expressbank - from 8.5-11.5% to 10-12%; Yelobank - from 9.5-11% to 9.5-12%

The construction materials market in Baku in November exhibited modest but varied shifts in pricing, influenced by local production, imports, and fluctuating supply chain conditions. While many categories remained stable, certain materials saw notable price adjustments, reflecting broader economic trends.

In November 2024, the average price of a consumer basket (CB) for 30 basic domestically produced food items compiled by the Turan agency in Baku rose by 0.6%.

In November 2024, the lending situation changed in two Azerbaijani banks. These banks revised the interest rates for both consumer and business loans offered in Azerbaijani manats.