Azerbaijani International Bank Retains its Leadership in Exchange Market of Hard Currency
Azerbaijan, Baku, 11 January / corr. Trend / The Baku Interbank Currency Exchange announced the five banks which had participated in the leading operators of the exchange market in hard currency for December 2007.
The International Bank of Azerbaijan, Unibank Plc, stock commercial bank of Texnikabank, Bank Standard and Yapi Kredi Bank Azerbaijan are amongst the five leaders of the exchange currency market. The aggregate share of the top five dealer banks in the currency exchange market is equal to 51.78% of the currency section's turnover at BBVB. The share of IBA is 16.43%, Unibank 15.43%, Texnikabank 9.77%, Bank Standard 5.69% and Yapi Kredi Bank Azerbaijan 4.46%. Thirty banks took part in the trade currency section of Baku Interbank Currency Exchange within December.
Some 40 trading sessions were held and 179 deals have been signed. The volume of trade currency sections made up AZN 216,398 or $256,016. The turnover of the currency section of the exchange increased by AZN 58.02mln or 36.64% compared to November.
During this period the amount of the trading sessions on EUR/AZN tool, for the first time, reached AZN 6.514mln, comprising approximately 42.7% of the aggregate amount of deals registered in the EUR/AZN currency this year.
The figures fixed in December turned out to be the highest in 2007 for the amount of deals and number of participant banks at the BEST. So, these indices can be regarded as the second for lastyear for the amount. The average sustained turnover of the trading session with currency at BEST reached $12.801mln, whereas the average amount of each deal was $1.446mln.