International Bank of Azerbaijan Once Again on Top of Currency Exchange Transactions
Azerbaijan, Baku / Trend / Baku Inter-Bank Currency Exchange (BBVB) defined five banks leading in the operations relating to the hard currency market in June, according to the report of the Currency Exchange released on 2 June. The International Bank of Azerbaijan (IBA) is at the top of the list.
Other leading banks on the list also included Unibank OJSC, Texnikabank, Azeriqazbank and Azerturkbank OJSC. The deals struck by the IBA in the general turnover of the currency made up 77.35%, by Unibank 21.67%, by Texnikabank 6.28%, by Azeriqazbank 4.27% and by Azerturkbank 2.45%.
In total 24 banks took part in the currency transactions of the BBVB in June. Thirty-eight trade sessions were held in the electronic exchange transactions system and 120 deals were registered.
The amount of the currency transactions made up AZN 176,273,000 or $206,215,000 in June. As compared to the June 2006 figures, the turnover of the Exchange currency section increased by AZN 59,791,000 or 45.1%. As a result of January-July 2007, the currency turnover comprised AZN 564.14mln or $653.01mln, which is AZN 165,364,000 or 41.4% more than in the same period of 2006.