Interest rates on deposits in Uzbekistan increases in July

Average interest rate on checking accounts in soums in July comprised 3.86%. The interest rate increased by 0.37 points in past month.

Average interest rate on 3-month soums deposit increased by 2.44 points and in July made up 20.86%.

Average interest rate on 6-month soums deposits increased by 3.33 points to 22.05%.

Average interest rate on 12-month soums deposit in July increased by 5.26 points compared to previous month to 21.79%.

Average annual interest rate on term deposits in soums in July made up 21.51%, and increased by 3.59 points compared to previous month.

In July, average annual interest rate on term deposits in the US dollar was 7.10% or up 0.28 points compared to June.

Average interest rate on term deposits in euro decreased by 0.19 points and made up 6.46%.

Changes in soums deposits are connected to introduction of new deposits and positive change of interest rates in a number of banks of Uzbekistan. Leaders among them are Ipotekabank, Halqbank and Kapitalbank. Largest increase in rates are spotted in 12 month term deposits, with 15-15 points grow in a leading banks.

The investment company said changes in USD and Euro are not significant and related to suspension of some deposits.

AFS Research gathers information from 27 main commercial banks based on publications in mass media and direct interaction. The review includes information on each bank, current and previous interest rates, changes, etc.

AFS–Research is investment company, providing wide-scale services for work in capital market. Main directions of activity are investment analytics, investment-banking services and investing consulting. Company web-site: www.afs-research.com.