Pasha Bank supports securities market development
Azerbaijan, Baku, June 20 / Trend N. Ismayilova /
The Azerbaijani Pasha Bank is supporting securities market development in Azerbaijan, Chairman Farid Akhundov told Trend.
"The bank is actively working with corporate clients," he said. "We want to be useful for companies that issue debt obligations in the Azerbaijani stock market."
He said the bank has all the features in terms of personnel, resources and capital availability to act not only as a corporate bond underwriter and investor, but also as a market maker.
"New allocations are planned to be made in the nearest future," he said. "This part of the work has a strategic interest and we will intensify the activity in this area."
The bank previously rendered underwriting and market maker services to Unileasing in placing its bonds, which occurred on May 31, 2011. The bonds for a period of 1.5 years to the amount of 5 million manat were placed at 10 percent.
Pasha Bank was established in June 2007. It operates under the license of the Central Bank of Azerbaijan, dated on January 28, 2007. The authorized capital amounts to 123.475 million manat.
The official exchange rate is 0.7875 manat to $1.