The rate on access operations to provide liquidity was set at 11.25 percent and the rate on access operations to withdraw liquidity - at 9.25 percent.

Lenders reported a rise in total net profit of 7.2 percent year-on-year of 609 million manats ($358 million) in 2021.

The consumer price index rose by 10 percent year-on-year in 2021, up from 5 percent a year earlier.

Commercial banks reported a total net profit of 2.081 billion lari ($674 million) from January to December 2021 compared to a profit of 99.3 million lari in 2020.

The nine-year loan agreement was signed on December 22 and will be used to build new elevators for storing grain and oilseeds.

The bank explained its decision by risks and uncertainties that persisted in external and domestic economic conditions despite the declining dynamics.