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Growth rates of corporate securities market exceeds economic growth in Azerbaijan

Business Materials 25 January 2011 18:58
In 2010, the corporate securities market of Azerbaijan showed the dynamics of growth that exceeded the growth of the economy in general and the financial sector, increasing by 67 percent to 762.4 million manat, the State Securities Committee reported.

Azerbaijan, Baku, Jan. 25 / Trend N.Ismayilova /

In 2010, the corporate securities market of Azerbaijan showed the dynamics of growth that exceeded the growth of the economy in general and the financial sector, increasing by 67 percent to 762.4 million manat, the State Securities Committee reported.

The stock market increased by 37 percent and placing shares more than doubled. More than 95 percent of the operations on stocks were concluded on the formal market (Baku Stock Exchange), which is 4.5 percent higher than in 2009.

The primary and secondary corporate bond markets increased by 2.5 times - to 292.1 million manat. Primary and secondary bond market nominated in foreign currencies, increased by about threefold.

Despite the fact that realization of the soft monetary policy and a conservative lending had a depressing effect on the market for government securities, the rate of decline had slowed thanks to the targeted interventions. So, in 2009, primary and secondary market transactions, with notes of the Central Bank of Azerbaijan fell by 83 percent, and in 2010 the volume fell by 35 percent.

The state bond market declined by 31 percent last year, but in late 2010 observed an increase in yield of state bonds with different maturities.

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