Major tendencies in different segments of monetary-credit system in February 2006:
Money mass Рњ2 grow
In January the banks of Azerbaijan decreased crediting in economy;
In January deposit base of the Azerbaijani banks grew;
Trading sessions on placement of T-bills were held in the stock market. The NBA continued the placement of short-term notes in the Baku Stock Exchange.
Currency market and rate of AZM
In February 2005 the International Bank of Azerbaijan became a leader at the Baku Interbank Currency Exchange. The IBA was a leader at the exchange currency market of Azerbaijan in 2003 (December, November, September, July, August) and 2004 (except October), in 2005 excluding December. The similar tendency was observed this year.
Amount of currency trading sessions at BBVB in January to February 2006
|
Amnount, in m USD |
Rise in Feb 2006 |
Rise in a year | |
|
Total, (BEST) |
42,677 |
-40,15% |
-46,09% |
Without consideration of the deals at the NBA, 29.7% of the currency turnover fell on IBA in February
Along with the IBA, the top five included Bank of Baku (7.03%), Bank Standard (6.14%), Bank Respublika (5.22%) and Azerigazbank (3.9%).
As of totals of January the leaders were the IBA (32.78%), Bank of Baku (6.97%), Bank Standard (4.31%), Bank Respublika (3.84%) Рё UniBank (3.15%).
|
Banks |
Share in total, % |
|
International Bank of Azerbaijan |
29,7 |
|
Bank of Baku |
7,03 |
|
Bank Standard |
6,14 |
|
Bank Respublika |
5,22 |
|
Azerigazbank |
3,9 |
In February 23 member-banks of the currency section participated in the auctions. They concluded 40 deals at 58 trading sessions with the total amount of 38,990m manats, or $42,677m, which is 40.15% as compared to January and 46.09% - February 2005.
The exchange rate of the national currency rose 0.2% - from 0,9146 manats to 0.9128 manats per 1 USD. In the end, the average sustained rate of AZM in regard to USD made up 0,9136 manats per 1 USD in February 2005, whereas in January it was 0,9156 AZN.
Monetary market
In February monthly pace of money mass reduced 8.1%, while in 2005 it grew 20.5%.
As of 1 March 2005 money mass (M2) made up 765.3m manats, against 708.2bn manats of 1 February and 634.88m manats as of 1 March 2005.
In February the amount of cash money (Рњ0) rose 1.4%, while an annual rise was 7.2%. As of 1 March 2006 M0 turned out at 482.4m manats against 466.2m manats fixed as of 1 February and 440.8m manats fixed as of 1 March 2005.
In February the amount of non-cash money rose 21%, while annual rise was equal to 50.9%. As of 1 March 2006 non-cash funds grew to 292.9m manats against 242m manats fixed as of 1 February and 194.1m manats fixed as of 1 March 2005
Parameters of the monetary market
|
Amount, 01.03.06 | |
|
Money mass in extensive understating (Рњ3) |
1849,2 |
|
Money mass on AZM (Рњ2) |
765,3 |
|
Cash in AZM |
472,4 |
|
Non-cash in manat |
194,1% |
In February the amount of the net international reserves (NIR) of the National Bank of Azerbaijan grew 4.5%, while since the beginning of the year it has grown 29.7%.
As of 1 March 2006 NIR comprised 1155.1m manats against 1105.4m manats as of 1 February and 890.9bn manats as of 1 March 2005. Net internal asserts constituted 694.7m manats against 676.7m manats as of 1 February and 544.9bn manats as of 1 March 2005.
As of 1 March the expanded money mass (M3) has amounted to 1849.7m manats (including 765.3m manats in the national currency) against 1782m manats (including 708.2m manats in the national currency) as of 1 February and 1435.8bn manats (634.9m manats in AzM) as 1 March 2005.
Credit market
In February the Azerbaijani banks increased crediting economy by 2.1%, while it grew 32.8% in 2005.
As of 1 March 2006, 1352.205m manats of total credits were allocated (including 554.892m manats in national currency and 797,313m manats in hard currency) against 1380,360m manats (including 543,235m manats in national currency and 837,125m manats in hard currency) as of 1 February and 1018,030m as of 1 March 2005. Overdue credits and loans comprised 66,679m manats against
68,902m manats as of 1 February and 106,596m manats as of 1 March 2005. The statistics of overdue credits does not include the similar loans allotted by non-bank credit organization Agrarkredit.
The short-term credits comprised 797,104m manats (including 48.5m manats of overdue loans) against 841,480m manats (including 50.1bn manats of overdue loan) as of 1 February and 712,579m manats (39.3bn manats) as of 1 March 2005. The long-term credits constituted 555,101m manats (18.2m manats) against 538,879m manats (18.8m manats) as of 1 February and 305,451m manats (13.2m manats) as of 1 March 2005.
As of 1 March two public banks allocated credits of 629,494m manats (-9.1% in February and +37.34 over the year), private banks 674,416m manats (+2.7% in February and +42% over the year).
As of 1 March 2006 credit portfolio of banks with foreign capital made up 262.8m manats (+3.7% and +57.6% respectively), including 27.4m manats loaned by foreign banks (+9.6% and +22.9% respectively). As of 1 March credit portfolio 85 NBKO comprised 48,295m manats against 39,619m manats 83 NBKO as of 1 February and 84,828m manats 70 NBKO as of 1 March 2005.
As of 1 March average annual rate of banking crediting in the economy comprised 16.03% in national currency against 15.54% as of 1 February and 15.34% as of 1 March 2005. With consideration of inflation rate of 5.7% in 2005, the average annual rate on banking crediting the economy made up 18.16% in foreign currency against 17.47% as of 1 February and 18.63% as of 1 March 2005.
As of 1 March the average annual rate of banking crediting of legal entities made up 14.99% in national currency against 14.58% as of 1 February and 15.22% as of 1 March 2005. The average annual rate of banking credit of legal entities constituted 16.12% in foreign currency against 15.86% as of 1 February and 17.24% as of 1 March 2005.
As of 1 March average annual rate on banking crediting of physical entities comprised 18.90% in national currency against 18.22% as of 1 February and 15.60% as of 1 March 2005. Average annual rate of banking crediting of physical entities made up 21.86% in foreign currency against 20.90% as 1 February and 21.87% as of 1 March 2005.
Banking sector
In February the deposit base of Azerbaijani banks grew 4.7%, while since the beginning of the year its growth has made up 38.4%.
As of 1 March the total amount of bank deposits and savings of legal and physical entities made up 1377.3bn manats against 1315.9bn manats as of 1 January and 995m manats as of 1 March 2005. 292.3m manats of the total sum fell on manat reserves, while 1084.4m manats on hard currency. In February growth of deposits in manat made up 0.9% while currency deposits with a rise of 20.8%.
As of 1 March the amount of savings and deposits of physical entities reduced 5.7%, while the savings and deposits of legal entities dropped 4.1%. The savings and deposits of legal entities of individual clients increased 26.2%, while deposits of corporate clients grew 47.1%
As of 1 March the amount of savings and deposits of physical entities at banks grew to 522.1bn manats against 494.1m manats as of 1 February and 413.8m manats as of 1 March 2005. As of 1 March the amount of deposits of legal entities made up 855.2bn manats against 821.7bn manats as of 1 February and 581.2bn manats as of 1 January 2005.
As of 1 March 292.3bn manats (+20.8% a month) of savings and deposits of physical entities was implemented in national currency, while 1084.4m manats (+5.6%) in hard currency. 233.6m manats of deposits of legal entities (+27%) were implemented in manats, while 621.6bn manats (-2.6%) in hard currency.
As of 1 March 2006 the average rate of bank deposits of physical entities in the national currency comprised 9.49% against 8.85% as of 1 February and 7.23% as of 1 March 2005, while real inflation ratio was 5.7%. The average rate of banking deposit in hard currency was 10.72% against 10.37% as of 1 February and 10.01% as of 1 January 2005.
As of 1 March the average rate of bank deposits of legal entities in the national currency comprised 8.05% against 7.21% as of 1 February and 6.29% as of 1 March 2005. The average rate of banking deposit of corporate client in hard currency is 8.42% against 6.79% as of 1 February and 6.68% as of 1 March 2005.
As of 1 January the average rate of bank deposits of physical entities in the national currency comprised 11.03% against 10.74% as of 1 February and 8.95% as of 1 March 2005. The average rate of banking deposit of individual client in hard currency is 10.94% against 10.88% as of 1 February and 10.41% as of 1 March 2005.
In February 2006 average statutory capital of the Azerbaijani bank grew from 6bn manats to 6bn manats as of 1 February 2006 to 6.1m AZN against 5.6m manats as of 1 March 2005 and normative requirement for $5m as of aggravate capital of the bank, the National Bank of Azerbaijan announced. In February the net of branches of the banks remained unchanged, while they turned out 7.4% less than 2005.
As of 1 March 44 banks had 375 branches against 349 branches of 42 banks as of 1 March 2005. 85 non-bank credit organizations have 26 branches.
In February the statutory capital of banks grew from 266m manats to 266.3m manats, or 0.1%, while this year the statutory capital comprised only 25.5%. The capital of 42 commercial banks grew in February from 230.2m manats to 230.5m manats. The capital of two state banks was maintained at the level of 35.8 manats. As of 1 February 2006 6m manats of statutory capital falls per bank in average.
The total capital of 18 banks with foreign participation remained unchanged in February and made up 98.2bn manats and their share in entire statutory capital comprised 36.9%, while net foreign investments (48.7m manats) comprised only 18.3% of the total sum.
Stock market
In February the Ministry of Finances held two auctions on placement of T-bills. The auction with issue of 8mn manats resulted in the placement of 3,537,800m manats (44.2% of the issue). Average sustained profitability rate of the auction comprised 9.90% per annum. No deal was fixed at the secondary market.
In January the National Bank of Azerbaijan (NBA) held 4 auctions on placement of short-term notes. The emitter succeeded to place 36m manats (100% of the issue). The average sustained profitability rate on the results of 4 auctions comprised 9.85% per annum.
Only one deal on short-term bonds was fixed at the secondary market in the amount of 604,395 manats.
In February 1,278,140 manats was placed at the corporate shares market, while at the secondary market on short-term notes with the total amount of 1,050,214 manats. Initial placement of corporate bonds comprised $105,400 in February, while at the secondary market it was fixed at $16,000.