Will loan interests be increased?

12:29 - 1 February 2023

February 1, Fineko/abc.az. "We expect banks to reflect tax expenses in interests of deposits."

ABC.AZ reports that Central Bank’s chairman Taleh Kazimov stated about this at a press conference, when answering a question about the impact of this on financial markets after taxation of interest income on deposits from 1 February.

"We expect that interests will be increased in interests from tax so that deposits do not leave the banks," he said.

CBA chairman added that perhaps this issue will affect the growth of interest rates on loans: "But it will take time for us to appreciate it."

By Elmir Murad