The Central Bank of Azerbaijan (CBA) states that its foreign exchange reserves lost steady growth in September and October.
According to the CBA, as of November 1, the CBA currency reserve volume totaled $15.033 billion compared to $15.042 billion as of October 1, $14.152 billion as of January 1, 2014 and $11.695 billion as of January 1, 2013. A decrease in reserves was 0.1 percent ($8.8 million) in October. However, they increased by 6.24 percent ($881.6 million) in that period of 2014. As of 2014, foreign exchange reserves must reach $16 billion.
CBA could not accelerate the expansion of international reserves. In October they increased by 1.7 percent, without compensating the September drop (-1.9%).
As of October 2014, its international reserves amounted to $17.745 billion compared to $17.442 billion as of September, $17.782 billion (a record level) as of August. For comparison, as of January they were assessed at $14.787 billion, the CBA said.
AzerTurkbank board changed in October after the bank's shareholder - an owner of 50 percent of shares of the Azerbaijani side changed.
Farhad Adigozalov was appointed acting chairman of the bank. He replaced Mehmet Sami Acarozmen.
Adigozalov has been appointed first deputy chairman of board at AzerTurkbank since September 2, 2014. He replaced deputy chairman Suleyman Bakirov.
Alptekin Sarıgöl and board members Zaur Kalyashov and Parvana Mammadova retained their positions as part of the board.
The deputy chairman's appointing acting chairman is considered a standard procedure in the bank, the bank said.
The bank declined to comment on other changes in the Supervisory Board.
Earlier, Mammad Musayev was the chairman of the Supervisory Board. Musayev is the chairman of Agrarcredit non-bank credit organization. It owned 46 percent of AzerTurkbank's shares.
The bank's shareholders changed in summer 2014. The Azerbaijani Finance Ministry bought 50 percent of AzerTurkbank's shares, 46 percent of Agrarcredit's shares and four percent of TuranBank's shares. Later, the ownership of 50 percent equity in AzerTurkbank's capital was transferred by the Ministry of Finance to the State Property Committee.
"Transferring the ownership to the Finance Ministry is a normal process," director general of the Central Bank of Azerbaijan Rashad Orujov told Trend.
"This bank was created from the very beginning as a state bank," he said. "That period Agro-Industrial Bank owned a half of AzerTurkbank's shares. But after its liquidation, its ownership was transferred to its successor - Agrarcredit non-bank credit organization. Currently, the nominal holder of shares of the bank is the State Property Committee."
Orujov said that this decision is not related to the further privatization of AzerTurkbank.
Around 46 percent of the remaining shares belong to Turkish TCZiraat Bankası, four percent - Ziraat Bank Intenational AG (Germany).
The bank's future plans include increasing the bank's share capital. Currently, it is 12.24 million AZN.
Rabitabank board changed in October. Deputy Chairman of the Board Elchin Gadimov was appointed acting head. Gadimov has been working in this bank since 2006.
Rabitabank former chairman of board Nikoloz Shurgaia left this post because his contract expired Oct. 1.
"Shurgaia was invited to improve the bank's activity in certain directions," he said. "He conducted the task within two years. Then the contract with Shurgaia was not renewed."
"Rabitabank" has been operating on the banking market since 1993. A controlling stake in the bank (86.1 percent) belongs to the chairman of the Rabitabank Supervisory Board Zakir Nuriyev.
According to the bank development plan for 2013-2017, Rabitabank plans to increase its loan portfolio to 175.645 million AZN by the end of 2014 and up to 345.724 million AZN by the end of 2017. In this case, the bank's assets are expected to reach 253.649 million AZN and 505.675 million AZN, respectively.
The deposit portfolio volume will increase to 327.066 million AZN by the end of 2017. According to the bank's plans, the bank's capitalization is expected to hit 65.68 million AZN by the end of 2014. In the future, the bank plans to increase its capital to 105.76 million AZN by the end of 2017.
"Bank of Azerbaijan" management is expected to be changed in connection with Hafiz Mammadov's return to the bank management.
Currently, the negotiations are underway to attract investors to the bank to further restore Bank of Azerbaijan's activity. The changes in the bank in the near future will be discussed at the Supervisory Board, the sources in banking circles told Trend.
The new staff of the board and the supervisory board of the bank was approved at the shareholders' meeting of "Bank of Azerbaijan" in May 2014.
Mehman Ismayilov was elected chairman of the Supervisory Board upon a decision of the shareholders' meeting. He replaced Hafiz Mammadov at this position. Javad Javadov and Araz Aliyev also joined the board.
Mahammadali Aslanov was elected acting chairman of board. Elshad Karimov and Nijat Khalilov joined the board.
Despite the changes in the bank's management, the number of shareholders remained. As before, three physical entities (Kenan Mammadov, Senan Mammadov and Mubariz Mammadov) and one legal entity - "NEM" Holdinq are the shareholders of the bank.
The Central Bank of Azerbaijan restricted the bank's license due to financial difficulties. At present, "Bank of Azerbaijan" is not authorized to draw deposits.
Earlier, CBA chairman Elman Rustamov also talked about the temporary liquidity problems in "Bank of Azerbaijan".
Currency market and AZN rate
The AZN rate has kept its stability compared to the U.S. dollar since early 2014. The AZN rate compared to the U.S. dollar appreciated by 1 point in January-October 2014, amounting to 0.7844 AZN per dollar as of the end of the reporting period.
The exchange rate precession of 0.7843 AZN versus $1 has been recently observed. The exchange rate either drops to 0.7842 AZN or rises up to 0.7844 AZN.
The absolute minimum was established on January 30, 2014 at the level of 0.7842 AZN to $1 and since then it remained at this level several times.
As of 2013, the official exchange rate was 0.7845 AZN compared to 0.7850 AZN as of 2012 and 0.7865 AZN per $1 as of 2011. Thus, 2011 began with the official exchange rate of $1 to 0.7979 AZN.
The euro rate decreased by 7.66 percent compared to the AZN in January-October 2014. Thus, the exchange rate dropped from 1.0691 AZN to 0.9872 AZN per euro in January-October.
A minimum rate for the reporting period - 0,9872 EUR / AZN was recorded on October 31, a maximum rate - 1,0932 EUR / AZN was reached on March 13. The fluctuations between maximum and minimum values were 819 points.
However, it should be stressed that EUR / AZN exchange rate was characterized by strong volatility of dynamics as opposed to the dollar.
Foreign exchange market
According to the Baku Interbank Currency Exchange (BBVB), four participating banks held 13 transactions at 42 trading sessions in Bourse E-System of Trades (BEST) in October 2014. The total trading volume in the USD / AZN (spot) currency section in the reporting month was 40.998 million AZN or $52.273 million.
The trading volume in the currency section decreased by 23 percent or by 12.321 million AZN in October compared to September. The average daily turnover in e-trading USD / AZN system was approximately $2.489 million in October, while the average amount of each transaction - $4.021 million.
The national currency exchange rate in USD / AZN_TOD in the reporting month remained unchanged - 0.7829 AZN for $1. The average rate of dollar compared to AZN was 0.7843 AZN in October 2014.
There was no trading on the interbank credit market functioning as part of BEST system in May-October 2014. The only deal (worth 2 million AZN) was held in April as in February 2014. This increased the turnover of the organized interbank credit market up to four million AZN this year.
The average monthly interest rate calculated on the basis of banks-market makers' bids for BakiBOR loans for up to 90 days, amounted to 10.71 percent per annum in AZN and 10.74 percent per annum in dollars in October 2014. BakiBID rate up to 90 days was 5.13 percent per annum in AZN and 4.80 percent in dollars.
As of 2014, BBVB turnover on dollars hits 307.509 million AZN or $387.188 million (spot). As of 2013, it was 403.644 million AZN or $512.752 million (spot), and taking into account the swap - 414.987 million AZN or $527.752 million.
Azerbaijani monetary market
The Central Bank's important objective is to manage the money supply at an adequate macroeconomic and financial stability level, in terms of continuous growth of foreign exchange reserves of the country and increased liquidity of the banking system.
The money supply rate (M2) (cash in circulation (outside banks) and remainders in the domestic currency on accounts of non-financial organizations, financial (excluding credit) organizations and physical entities) increased by 15.7 percent in January-October 2014 compared to the same period of 2013.
The money supply rate (M2) amounted to 17.370 billion AZN as of October 1, 2014 compared to 15.018 billion AZN as of October 2013, according to the report.
The amount of cash money supply (M0) increased by 6 percent during a year and amounted to 10.306 billion AZN compared to 9.724 billion AZN as of early November 2013.
As of January-October 2014, Broad Money Supply (M3) totaled 21.372 billion AZN or 19.6 percent more compared to January-October 2013 (17.867 billion AZN).
The transaction money (M1) increased by 7.1 percent during a year and amounted to 12.681 billion AZN compared to 11.837 billion AZN as of October 2013.
Parameters of monetary market, in billion AZN:
|
Volume, Nov. 1, 2014 |
|
|
Money mass in extensive understating (М3) |
21 372,1 |
|
Money mass on AZN (М2) |
17370 |
|
Cash in AZN (М0) |
10306,4 |
|
Non-cash in AZN |
7063,6 |
The expanded monetary base in Azerbaijan amounted to 11.587 billion AZN as of November 1, 2014.
The monetary base increased by 7.06 percent per annum, according to the report. For comparison, this figure amounted to 10.823 billion AZN as of October 2013.
As of November 1, 2014, the monetary base in AZN amounted to 11.478 billion AZN compared to 10.732 billion AZN as of November 1, 2013.
During the reporting period the volume of money in circulation amounted to 10.993 billion AZN, while as of November 1, 2013, this figure was 10.216 billion AZN.
The ratio of cash money mass in circulation to the monetary base amounted to 94.9 percent as of November 1, 2014 compared to 94.4 percent as of November 1, 2013.
The bank reserves were equal to 564.5 million AZN which is 10.5 percent more than in October 2013 (582 million AZN).
Azerbaijan's loan market
Azerbaijani banks increased lending to the economy by 19.02 percent in January-October 2014, compared to the same period of 2013, the Azerbaijani Central Bank (CBA) said in its report.
The banks issued loans totaling 17.841 billion AZN, including 13.160 billion AZN (73.77 percent) in national currency and 4.680 billion AZN (26.24 percent) in freely convertible currency as of Nov.1, according to the CBA report.
By comparison, the figure amounted to 14.991 billion AZN (around 10.707 billion AZN in national currency and 4.283 billion AZN in freely convertible currency) in January-October 2013.
Of the total portfolio, loans worth 943.4 million AZN (5.3 percent) were overdue compared to 783.2 million AZN (5.23 percent) as of January-October 2013.
The statistics of overdue loans does not include similar loans of Aqrarkredit non-banking credit institution. Overdue loans increased by 20.5 percent during a year.
Short term loans amounted to about 3.711 billion AZN (including overdue loans worth 379.3 million AZN) compared to around 3.375 billion AZN (including overdue loans worth 364.5 million AZN) as of January-October 2013. The volume of short-term loans in the economy increased by 9.96 percent during a year.
The volume of long term loans hit 14.129 billion AZN, including 564.1 million AZN in overdue loans compared to about 11.615 billion AZN, including 418.6 million AZN of overdue loans as of January-October 2013. The long-term loans increased by 21.65 percent during a year.
The credit portfolio of the only state bank in the country, the International Bank of Azerbaijan, hit 6.065 billion AZN with the specific weight of 34 percent, while private banks issued loans worth around 11.251 billion AZN with a specific weight of 63.1 percent.
The remaining 2.9 percent fell to the share of non-bank credit organizations. They issued 525.2 million AZN, according to the CBA.
The Azerbaijani banks increased the consumer lending volume by 25.4 percent in January-October 2014 compared to the same period of last year.
The share of consumer loans in a total volume of the banks' credit investments amounted to 41.4 percent or 7.383 billion AZN. For comparison, their share was 39.3 percent in January-October last year. The amount of issued loans hit 5.886 billion AZN with an annual growth of 42.31 percent.
The trade and services rank second (14.2 percent or 2.540 billion AZN) in the total loan portfolio of banks. The construction and real estate rank third (13.8 percent or 2.461 billion AZN).
Around 11.6 percent of a total lending volume to the real sector of the Azerbaijani economy was transferred to the industry and production. It is 2.078 billion AZN in nominal terms.
The banks also increased their lending to the industry in connection with the announcement of 2014 as the Year of Industry in Azerbaijan. For comparison, the share of lending to the industrial sector accounted for 9.7 percent of total bank deposits in the country's economy in January-October 2013.
Around 3.2 percent (569.1 million AZN) accounted for transport and communication, 4.6 percent (817.7 million AZN) - agriculture and processing, 1.2 percent (220.6 million AZN) - energy, chemistry and natural resources over this period.
The loans given to the population in Azerbaijan's districts totalled 2.929 billion AZN as of October 2014, or 17 percent of the banks' total loan portfolio.
This figure is 48.4 percent more than in the same period of 2013.
The figure stood at 14.912 billion AZN in Baku. Here the loans in national currency (AZN) amounted to 10.849 billion AZN.
In October 2014, the average interest rate on loans throughout the country was 14.2 percent, while in Baku this index stood at 12.9 percent.
The lending volume in the Absheron Economic district totalled 572.77 million AZN at an average rate of 18.4 percent.
In other economic districts the lending index was as follows: Aran - 1.021 billion AZN at a rate of 21.3 percent, Mountainous Shirvan - 117.18 million AZN at a rate of 23.4 percent, Ganja-Gazakh - 402.34 million AZN at a rate of 21.6 percent, Guba-Khachmaz - 128.42 million AZN at a rate of 20.9 percent, Lankaran - 309.29 million AZN at a rate of 23.4 percent, Shaki-Zagatala - 163.7 million AZN at a rate of 20.8 percent, the Upper Karabakh - 75.75 million AZN at a rate of 20.4 percent, Kalbajar-Lachin - 30.26 million AZN at a rate of 25.4 percent, Nakhchivan - 107.88 million AZN at a rate of 13.2 percent.
The Azerbaijani banks increased interest rates on loans in foreign currency and reduced the rates in local currency.
The average rate on bank lending to the economy of Azerbaijan in national currency amounted to 14.14 percent for this period compared to 14.33 percent as of November 1, 2013, the Central Bank of Azerbaijan's report as of late October said.
A real interest rate (deducting the annual inflation of 1.6%) accounted for 12.54 percent.
The average rate on bank lending in freely convertible currency made up 14.57 percent compared to 14.55 percent as of early November 2013.
The average rate on bank lending to legal entities in national currency amounted to 11.64 percent compared to 11.40 percent as of November 1, 2013. The average rate on bank lending to corporate clients in freely convertible currency amounted to 9.90 percent compared to 10.98 percent.
As of October 1, 2014, the average rate on bank lending to physical entities in national currency amounted to 18.32 percent compared to 18.35 percent as of November 1, 2013.
The average rate on bank loans to individual customers in freely convertible currency was 21.36 percent compared to 20.70 percent as of early November 2013.
The average lending rate of Azerbaijani banks exceeded the rate of the Central Bank by 4.04 times in January-October compared to 2.97 times as of 2013 and 3.04 times as of 2012.
Mortgage lending
In January-October 2014, the Azerbaijan Mortgage Fund (AMF) under the Azerbaijani Central Bank delivered loans amounting to 82 million AZN or 5.1 percent less than in the same period of 2013.
Mortgage loans worth 615.09 million AZN have been delivered since launching financing through the AMF, including 112.9 million AZN in 2013, 74.77 million AZN - in 2012, 95.64 million AZN - in 2011, 97.08 million AZN - in 2010, 76.9 million AZN - in 2009, 70.2 million AZN - in 2007 and 5.6 million AZN - in 2006.
The total amount of refinancing of loans delivered by the banks earlier, hit 109.7 million AZN in January-October 2014, according to the report.
The average amount issued by AMF authorized banks is 40,049 AZN, the average loan amount is equal to 27,900 AZN, with an interest rate of 6.82 percent, and the average monthly payment is 318.7 AZN.
Currently, the maximum amount of a common mortgage loan through the AMF is 50,000 AZN at a rate of 8 percent with a payback period of 25 years. Terms under the social mortgage are 50,000 AZN at an annual rate of 4 percent with a payback period of 30 years. The initial payment under a social mortgage is 15 percent, whilst a conventional loan is 20 percent.
Conditions of mortgage lending are as follows: Loans must be issued in Azerbaijani AZN and only to Azerbaijani citizens and the mortgage can only be for an apartment or private house. The volume of mortgage lending must not exceed 80 percent of the market price and the monthly payment must not exceed 70 percent of the debtor's monthly income. It is compulsory to have an agreement on life insurance.
Preferential conditions are granted to family members of war victims, national heroes, internally displaced persons, civil servants with at least a three years' experience, PhDs and those making special contributions to sport as well as to the military with at least a three-year service term. Each family having the right to such a mortgage can only use the opportunity once.
At present, the authorized banks of the Mortgage Fund are 28 banks [some 44 banks operate in the country].
Some 21 insurance companies [their total number is 27] and 14 appraisal organizations are the participants of the mortgage market.
Azerbaijan's banking sector
The economic cycles, seasonal factors and the attitude of investors, dictated by a variety of causes impact on the dynamics of deposits.
As of January-October 2014, the depositary base of Azerbaijani banks increased by 18.9 percent and 23.13 percent per annum, according to the Azerbaijani Central Bank's report.
As of November 1, 2014, the total amount of bank deposits and deposits of physical and legal entities totalled 14.827 billion AZN, compared to 12.042 billion AZN as of early November 2013, according to the CBA.
Around 7.485 billion AZN fell to cash, of which 2.405 billion AZN were demand deposits, and 5.079 billion AZN - term deposits. The funds in foreign currency amounted to 7.341 billion AZN (1.764 billion AZN and 5.577 billion AZN, respectively).
The deposits of physical entities increased by 11.14 percent, while the volume of legal entities' deposits by 33.26 percent compared to January-October 2013. These indexes increased by 9.54 percent during January-October and by 25.35 percent respectively.
As of January-October 2014, the volume of physical entities' deposits in the banks amounted 7.005 billion AZN compared to 6.303 billion AZN in January-October 2013.
Around 4.439 billion AZN (64 percent) of the population's funds were placed in the national currency, while 2.566 billion AZN in freely convertible currency, according to the Central Bank.
The Azerbaijani population's deposits in the national currency in the banks have prevailed over those in foreign currency since 2012.
The deposits of the population, being one of the most important indices of confidence in the banking system, also play a significant role as a resource for the banks to normally work.
The population's deposits, attracted to Azerbaijan's banking system from the country's districts (except for Baku), totaled 535.3 million AZN in January-October 2014, or 8 percent of the total bank deposits.
The figure increased by 12.55 percent compared to the same period of last year.
The volume of deposits in Baku was 6.470 billion AZN, while some 4.027 billion AZN accounted for the deposits in the national currency.
In this period, the average interest rate throughout the country hit 8 percent, and 8.1 percent - in Baku.
Thus, Baku is still the leader on such indices as attracting the population's deposits by the banks.
Among Azerbaijan's districts, the Absheron economic district (166.03 million AZN, the average rate of 8.6 percent per annum) is leading in terms of attracting the population's deposits.
In the mentioned period the volume of deposits in the Aran economic district totaled 164.82 million AZN at an average rate of 7.4 percent, Mountainous Shirvan - 15.9 million AZN at a rate of 6 percent, Ganja-Gazakh - 61.9 million AZN at a rate 5.9 percent, Guba-Khachmaz - 20.68 million AZN at a rate of 6.5 percent, Lankaran - 43.62 million AZN - the rate of 7.3 percent, Sheki-Zagatala - 23.66 million AZN - the rate of 5.4 percent, Upper Karabakh - 12.12 million AZN - 4.3 percent, Kalbajar-Lachin - 6.7 million AZN - 5.3 percent, Nakhchivan - 19.8 million AZN - the average rate of 4.3 percent.
As of January-October 2014, the volume of deposits of financial organizations amounted to 4.088 billion AZN compared to 3.067 billion AZN as of January-October 2013. The volume of deposits of non-financial organizations totaled 3.733 billion AZN compared to 2.671 billion AZN as of January-October 2013.
The total volume of deposits of legal entities totaled 7.821 billion AZN compared to 5.738 billion AZN as of November 1, 2013.
As of November 1, 2014, the Azerbaijani banks kept the rates on deposits in the national currency for legal entities but slightly reduced for the physical entities, according to the Azerbaijani Central Bank (CBA) report.
The rates on deposits in freely convertible currency were various.
The average rate on deposits in AZN as of November 1, 2014 made up 8.77 percent compared to 9.43 percent as of November 1, 2013, the report said.
The average rate on deposits in foreign currency amounted to 8.91 percent compared to 9.9 percent in early November 2013.
As of November 1, 2014, the average rate on deposits of physical entities in AZN made up 9.39 percent, while as of November 1, 2013, it was 9.83 percent. The average rate on deposits of individual customers in foreign currencies amounted to 9.93 percent compared to 10.35 percent as of early November 2013.
The average rate on deposits of legal entities in AZN made up 5.4 percent at the beginning of November this year compared to 5.74 percent as of November 1, 2013, the report said. The average rate on deposits of corporate clients in foreign currency amounted to 4.76 percent compared to 3.71 percent as of early November 2013.
Banks' financial activity
There are 44 banks in Azerbaijan: 42 commercial banks and 2 state-owned banks. There are 22 banks with foreign capital. The share of foreign capital ranges from 50 to 100 percent in seven of them, while up to 50 percent in 13 banks. There are also two local branches of foreign banks.
The total profit of Azerbaijan's banks exceeds the total loss by 12 times as of October 2014, Central Bank of Azerbaijan (CBA) said in its report.
The profit of 38 banks was 393.63 million AZN, while the loss of six banks stood at 32.26 million AZN, according to the report. This allowed the banking system to get net profit of 361.37 million AZN.
The number of profitable banks remained unchanged compared to September 2014, and their total profit increased by 12.95 percent. The number of unprofitable banks remained unchanged and their total loss increased by 13.93 percent.
The number of profitable banks remained unchanged in October 2014 compared to the same month of 2013, while the total profit of this sector increased by 31.5 percent. The number of unprofitable banks increased from five to six, while their total loss - by 2.3 times.
|
Periods |
Number of profitable banks |
The total profit of the banking system (profitable banks) |
Number of unprofitable banks |
The total loss of the banking system (unprofitable banks) |
Total profit (+) or loss (-) obtained by banks |
|
Nov. 1, 2013 |
38 |
299,29 |
5 |
-13,54 |
285,75 |
|
Nov. 1, 2014 |
38 |
393,63 |
8 |
-32,26 |
361,37 |
The capitalization of Azerbaijan's banking sector increased by 20.5 percent in October 2014 compared to October 2013 and amounted to 3.893 billion AZN as of November 1, 2014, the Central Bank of Azerbaijan's (CBA) report says.
There were 42 banks with capital worth over 10 million AZN as of the reporting period, according to the Central Bank of Azerbaijan's statistics report. This increased by 1 unit compared to late October 2013. The specific weight of this category in the total volume of capital of all the country's banks amounted to 99.8 percent as of the reporting period.
The capital of one bank ranged from 5 million AZN to 10 million AZN, the capital of other bank ranged from 3.5 million AZN to 5 million AZN. The specific weight of this category in the total volume of capital of the country's all banks amounted to 0.1 percent as of the reporting period.
The CBA requirement to the minimum amount of aggregate capital of the banks is set at the level of 50 million AZN by late 2014.
As of November 1, 2014, the assets of the Azerbaijani banking sector amounted to 23.94 billion AZN compared to 19.6 billion AZN as of October 2013.
The bank assets increased by 22.15 percent during a year, according to the Central Bank of Azerbaijan.
The basis of the assets of the banking sector (68.9 percent) accounted for loans delivered to the clients in the amount of 16.48 billion AZN (20.21 percent growth during a year), investments (2.12 billion AZN with 8.88 percent weight and 33.3 percent growth during a year) and funds on correspondent accounts (1.46 billion AZN with 6.1 percent weight and 44.56 percent growth during a year).
Loans and deposits delivered by the banks to the financial sector amounted to 983.4 billion AZN as of October 2014 (4.1 percent).
The lion share in the structure of liabilities accounts for deposits standing at 10.41 billion AZN (43.5 percent) as of November 1, 2014, showing an increase of 21.2 percent compared to the same period of 2013. Loans and deposits from the financial sector amounted to 8.09 billion AZN, increasing by 23.7 percent during a year.
Payment card market
The Central Bank of Azerbaijan stressed the continued boom experienced by payment cards as a financial tool in the country. In particular, the number of POS-terminals has doubled since early 2014.
The number of payment cards in Azerbaijan has increased by 3.37 percent since early 2014 and hit 5.864 million units as of October 2014.
Their number increased by 9.3 percent compared to the same period of 2013.
Some 4.639 million units of the total number of cards were debit cards, in particular, 2.479 million - social cards, 1.409 million - salary cards, 751,000 - other cards. The number of credit cards was 1.226 million units.
The total turnover on payment cards via ATMs and POS-terminals amounted to 9.446 billion AZN and the total number of transactions to 63.082 million units in January-October, according to the report.
The number of transactions on debit cards equaled 50.625 million units totaling 7.739 billion AZN.
Of the total number of transactions, around 40.597 million transactions amounting to 6.970 billion AZN were implemented on debit cards via ATMs within the country, and around 2.907 million transactions amounting to 489 million AZN via POS-terminals.
Some 13.929 million transactions worth of 1.908 billion AZN were made on credit cards in January-October 2014.
As many as 4.401 million transactions worth 1.007 billion AZN, of the total number of transactions on credit cards, were implemented via ATMs and there were 5.963 million transactions worth of 414 million AZN via POS-terminals.
As of November 1, 2014, around 2,556 ATMs operated in the country of which 1,447 are located in Baku and 1,109 in other cities and regions of the country. Their total number increased by 159 units or 6.6 percent during a year (compared to early November 2013).
The number of POS-terminals amounted to 64,297 units of which 43,767 are installed in Baku and 20,530 units in other cities and regions as of November 1, 2014.
The number of POS-terminals increased by 29,258 units or 83.5 percent compared to January-October 2013.
Stock market
The total turnover of transactions on all instruments on the Baku Stock Exchange (BSE) in January-October 2014 stood at 7.543 billion AZN, or by 1.3 times more compared to the same period of 2013.
The volume of the state securities market hit 4.082 billion AZN (a decrease by 14.87 percent) during the reporting period and the turnover of corporate securities market totaled 3.46 billion AZN (a 3.5 times growth).
Comparative table on the results of trades on corporate sector at BSE (Jan.-Oct. 2014):
|
Market segments |
As of Oct. 31, 2014 |
As of Oct. 31, 2013 |
Percentage ratio |
||
|
Volume of transactions (AZN) |
Number of deals |
Volume of transactions (AZN) |
Number of deals |
||
|
SB (Finance Ministry) - (placement) |
69 860 232,28 |
27 |
81 353 079,68 |
43 |
85,87% |
|
SB (Finance Ministry) -(secondary market) |
22 277 144,13 |
15 |
28 517 228,09 |
11 |
78,12% |
|
Notes (Central Bank) - (placement) |
138 069 570,70 |
43 |
259 862 229,59 |
95 |
53,13% |
|
Notes (Central Bank) -(secondary market) |
312 808 572,68 |
24 |
43 955 612,02 |
4 |
711,65% |
|
Repo transactions |
3 539 309 209,90 |
296 |
4 381 699 744,68 |
430 |
80,77% |
|
SS market, total |
4 082 324 729,69 |
405 |
4 795 387 894 |
583 |
85,13% |
|
CB (placement) |
1 894 359 171,94 |
84 |
93 636 359,60 |
67 |
2023,10% |
|
CB (secondary market) |
725 229 736,87 |
280 |
528 202 337,28 |
162 |
137,30% |
|
Stocks (placement) |
837 314 462,10 |
600 |
350 465 609,69 |
292 |
238,91% |
|
Stocks (secondary market) |
3 897 628,87 |
3,891 |
14 602 393,78 |
2,970 |
26,69% |
|
CS Market Total |
3 460 800 999,78 |
4,855 |
986 906 700,35 |
3,491 |
350,67% |
|
Total: |
7 543 125 729,47 |
5,260 |
5 782 294 594,41 |
4,074 |
130,45% |
Abbreviations:
- SB - state bonds
- SS - state securities
- CB - corporate bonds
- CS- corporate securities