Difference between deposits and loans clarified

25.10.2019,15:38


October 25, Fineko/abc.az. The sharp difference between deposits accepted by banks and annual interest rates of loans is caused by risks on collateral.

ABC.AZ reports that the statement was made by Central Bank’s chairman Elman Rustamov at today’s press conference.

Rustamov noted that banks add these risks to credit interest rates and business loans in the country have fallen in price.

"Since the beginning of this year the interest rate of loans given to businessmen has decreased from 16.2% to 11.1% per annum," the chief banker emphasized.

By Elmir Murad