National Bank of Kazakhstan returns investments in International Bank of Azerbaijan's securities
Baku, Azerbaijan, August 21
By Nargiz Sadikhova – Trend:
National Bank of Kazakhstan has returned initial investments in securities of International Bank of Azerbaijan (IBA) in their entirety, Trend reports with reference to the LS news agency.
“The full stock of the bonds has been sold during 1H2019. The revenue from the holding period of IBA’s securities and government securities of Azerbaijan has amounted to $40.8 million. Furthermore, the net internal rate of return (IRR) amounted to 4.1 percent taking into the account the received remuneration,” the report said.
In October 2014, debt securities of the International Bank of Azerbaijan worth $250 million were purchased into the pension assets of the Unified Accumulative Pension Fund of Kazakhstan. The time of the securities’ circulation was 10 years and the coupon rate was annual 8.25 percent.
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