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Finance 09/09/2010 Interest rates on deposits increases in September
Interest rates on deposits increases in September
Tashkent, Uzbekistan (UzDaily.com) -- Average annual interest rate on term deposits in soums in September made up 22.23%, AFS-Research said in its monthly report “Uzbekistan: Interest rates on bank deposits for September”.

Average interest rate on checking accounts in soums in September comprised 3.91%. The interest rate decreased by 0.36 percentage point in past month.

Average interest rate on 3-month soums deposit increased by 0.23 points and in September made up by 20.68%.

Average interest rate on 6-month soums deposits increased by 0.08 percentage point to 21.68%.

Average interest rate on 12-month soums deposit in September increased by 0.55 percentage point compared to previous month to 23.05%.

% per annum
Change for month
Currency
Deposit type
September
Soums Checking
3.91
-0.36
Soums Debit card
14.40
0
Soums 3M Term deposit
20.68
0.23
Soums 6M Term deposit
21.68
0.08
Soums 12M Term deposit
23.05
0.55
Soums Avg. Term deposits
22.23
0.76
US Dollars Avg. Term deposits
6.71
-0.24
Euro Avg. Term deposits
6.40
0.22

Average annual interest rate on term deposits in soums in August made up 22.23%, and increased by 0.76 percentage point compared to previous month.

In September, average annual interest rate on term deposits in the US dollar was 6.71% or fall down 0.24 percentage point compared to August.

Average interest rate on term deposits in euro increased by 0.22 percentage point and made up 6.40%.

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 Uktambank. Largest increase in rates are spotted in 6 month term deposits, with 15 points grow in a leading banks. Leaders among them are Qishlok Qurilish Bank. Largest increase in rates was spotted in 12 month term deposits, with 11 points grow in a leading banks.

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

AFS Research gathers information from 29 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.

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