As of November 1, 2013, the amount of foreign exchange reserves of the Azerbaijani Central Bank (CBA) reached $13.584.1 billion. This is an absolute record.
The reserves increased by 2.4 percent last month or by $321.4 million and by 16.15 percent ($1.889.3 billion) in January-October 2013. According to the bank's plans, the foreign exchange reserves must reach $15 billion as of 2013.
Some $3.16 billion or 23.99 percent of the total reserve assets of the Central Bank of Azerbaijan (CBA) in foreign currency were placed in securities in January-October 2013.
According to the report, some $9.4 billion are on the accounts of other central banks, the Bank for International Settlements and the International Monetary Fund (IMF). Their volume increased by 33.33 percent compared to the same period in 2012, while total assets held by the Central Bank amounted to 71.37 percent.
Azerbaijani Central Bank's total reserve assets in foreign currency amounted to $13.17 billion in January-October 2013, increasing by 13.83 percent, compared to the same period of 2012. As of late October, Central Bank's reserves kept in foreign currencies amounted to $12.93 billion, increasing by 14.12 percent, compared to the same period of 2012 ($11.33 billion).
Currency market and manat rate
The CBA conducted the currency intervention to the amount to $1.7 billion for ten months of 2013. Thus, the CBA has purchased foreign currency worth $2 billion on the currency market this year to prevent further appreciation of the manat.
Manat rate for the period remained stable. It was possible to prevent rapid appreciation of the national currency when the surplus of the balance of payments is more than 16 percent of GDP and high fiscal activity.
Today Azerbaijan manat is the most stable and reliable currency in the region.
The manat rate compared to the U.S. dollar appreciated by 0.025 percent in January -October 2013. The stability of the national currency had a positive impact on the sustainability of the financial sector. Manat appreciated nominally and really compared to the currencies of Great Britain, Turkey, Russia, Ukraine, Georgia, Iran and Japan during the reporting period.
It should be stressed that the high volatility of the dynamics was characterized for EUR / AZN exchange rate in Jan.-Oct. During this period, the euro exchange rate in Azerbaijan increased by 525 points or 5.1 percent (from 1.0229 manat per euro to 1.0754 manat per euro).
Foreign exchange market
The Baku Interbank Currency Exchange (BBVB) has updated the statistics of its transactions.
Seven banks held 10 transactions at 40 trading sessions in Bourse E-System of Trades (BEST) in October 2013. The total trading volume in the currency section in an accounting month on USD / AZN (spot) totaled 19.249 million manat or $24.540 million.
The trading volume in the currency section decreased by 1.6 times or 11.530 million manat in October compared to September.
The average daily turnover in the exchange electronic trading system on USD / AZN in October reached about $1.227 million, while the average amount of each transaction was $2.454 million.
The exchange rate of national currency on USD / AZN_TOD in the reporting month remained unchanged - 0.7835 manat per USD. The average rate of the U.S. dollar compared to manat hit 0.7844 manat per $1 in October 2013.
There was no trading on the interbank credit market functioning within BEST in October as in September. As of July, the amount of trading on the organized interbank credit market amounted to two million manat compared to five million manat in May, five million in April, two million in March, two million in February and five million manat in January.
The average monthly interest rate calculated on the basis of the applications of banks-market makers for BakIBOR loans up to 90 days in October 2013 amounted to 10.20 percent per annum in manat and 10.47 percent per annum in U.S. dollars. The rate on BakIBID up to 90 days was 4.83 percent per annum in manat and 4.62 percent in U.S. dollars.
In January-October BBVB turnover on U.S. dollar reached 338.152 million manat or $ 429.817 million (spot), and taking into account swap - 349.149 million manat or $443.817 million.
Azerbaijani monetary market
The Central Bank's important objective is to manage the money supply at an adequate macroeconomic and financial stability level, in terms of continuous growth of foreign exchange reserves of the country and increased liquidity of the banking system.
The Azerbaijani Central Bank stressed an increase in all units of the money supply as of January-October 2013 compared to the data in the same period of 2012. This is a result of the influence of two factors: the increase in the quantity of money in circulation and the rate of their turnover.
As of January-October 2013, money supply (M2) (cash in circulation (outside banks) and remainders in the domestic currency on accounts of non-financial organizations, financial (excluding credit) organizations and physical entities) increased by 19.5 percent compared to the same period of 2012.
According to the report, as of ten months of 2013, the rate of M2 was 15.017.8 billion manat compared to 12.563.6 billion manat in the same period of 2012.
The amount of cash money supply (M0) increased by 15.55 percent and amounted to 9.724.4 billion manat compared to 8.415.5 billion manat as of the same period of 2012.
As of January-October 2013, Broad Money Supply (M3) totaled 17.867.4 billion manat or 14.5 percent more compared to the same period of 2012 (15.606.6 billion manat).
The transaction money (M1) increased by 17.24 percent per year and amounted to 11.836.6 billion manat compared to 10.096.2 billion manat in January-October 2012.
Parameters of monetary market, in mln manat
|
Amount as of November 1, 2013 |
|
|
Money mass in extensive understating (М3) |
17867,4 |
|
Money mass on manat (М2) |
15017,8 |
|
Cash in manat (М0) |
9724,4 |
|
Non-cash in manat |
5293,4 |
The monetary base in Azerbaijan showed a steady rise in January-October 2013 and as of November 1, the expanded monetary base amounted to 10.823.2 billion manat in the country, the Central Bank of Azerbaijan (CBA) said.
According to the CBA data, the monetary base increased by 15.6 per cent per annum.
For comparison, this index hit 9.365.1 billion manat during ten months of 2012.
According to the bank, the monetary base amounted to 10.732.2 billion manat by November 1, 2013, compared to 9.291.3 billion manat by November 1, 2012.
The volume of money in circulation amounted to 10.216.5 billion manat during the reported period, compared to 8.887.5 billion manat as of November 1, 2012.
For its part, bank reserves amounted to 582 million manat, which is 26.85 per cent more than in October 2012 (458.8 million manat).
The ratio of cash weight in circulation to the monetary base amounted to 94.4 per cent for November 1, 2013, compared to 94.9 per cent for November 1, 2012.
Azerbaijan's loan market
Azerbaijani banks have increased lending to the economy by 20.8 per cent in January-October 2013 and by 30 per cent per annum.
According to the Azerbaijani Central Bank, for the reporting period the banks delivered loans totaling 14.991.4 billion manat including 10.707.8 billion manat (71.43 per cent) in national currency and 4.283.6 billion manat (28.57 percent) in freely convertible currency.
For comparison, the figure was equal to 11.643.5 billion manat (7.895.2 billion manat in national currency and 3.748.3 billion manat in freely convertible currency) in Jan.-Oct. 2012, and as of early 2013 - 12.243.7 billion manat (8.422.8 billion manat in national currency and 3.820.9 billion manat in freely convertible currency.
Of the total portfolio, loans worth 783.2 million manat (5.22 per cent) were overdue compared to 763.7 million manat as of January-October 2012. Statistics of overdue loans do not include similar loans of the non-banking credit institution Aqrarkredit. Overdue loans increased by 2.55 per cent per year.
Short-term loans amounted to 3.375.5 billion manat (including overdue loans worth 364.5 million manat) compared to 3.277.6 billion manat (including overdue loans worth 414.6 million manat) as of the same period of 2012. Short-term credit in the economy increased by 2.99 per cent per year. As of early November 2013, 29.86 per cent of short-term loans were in freely convertible currency (1.007.9 billion manat).
As of November 1, long-term loans amounted to 11.615.8 billion manat (including 418.6 million manat overdue loans) compared to 8.366 billion manat (including 349.1 million manat overdue loans) as of Jan.-Oct. 2012. Long-term loans increased by 38.84 per cent per year. As of early November 2013, 28.2 per cent of long-term loans accounted for freely convertible currency (3.275.6 billion manat).
According to the CBA, the credit portfolio of the only state bank in the country (the International Bank of Azerbaijan) hit 5.137.8 billion manat with a specific weight of 34.3 per cent, while private banks obtained the loans worth 9.420.4 billion manat with a specific weight of 62.8 per cent. The remaining 2.9 per cent fall to the share of non-bank credit organizations. They delivered 433.1 million manat.
Most of all loans are granted to households in Azerbaijan. According to the CBA, as of January-October 2013, households received 39.3 per cent or loans worth 5.886.7 billion manat.
The construction and real estate sector (15.4 per cent or 2.302.9 billion manat) ranks second, the trade and services (14.9 per cent or 2.227 billion manat) ranks third.
It should be stressed that industrial and production sector received 9.7 per cent of the total lending amount of the Azerbaijani real sector, which hits 1.456.4 billion manat in nominal terms.
Some 3.3 per cent (497 million manat) fall to the transport and communication, 4.8 per cent (722.5 million manat) - agriculture and processing, 2.1 per cent (307.8 million manat) - energy, chemistry, and natural resources, 10.5 per cent or 1.574.1 billion manat loans - on the other spheres.
The loans, delivered to the population in Azerbaijan's regions, amounted to 1.974.6 billion manat in January-October 2013, or 13.17 per cent of the total loan portfolio of banks, Central Bank of Azerbaijan (CBA) said
According to the CBA, in Baku this figure amounted to 13.016.8 billion manat, where the loans in the national currency accounted for 9.208.4 billion manat. As of November 1, 2013 the average interest rate on loans in the country was 14.2 per cent, and in Baku - 13.3 per cent.
The crediting volume in Absheron economic region amounted to 444.1 million manat at an average rate of 18.8 per cent, in Aran - 694.25 million manat at a rate of 19.9 per cent, in Mountain-Shirvan - 68.1 million manat at a rate of 22.2 per cent, in Ganja - Gazakh - 258.7 million manat - 20.3 per cent, in Guba-Khachmaz - 73.3 million manat - 21.3 per cent, in Lankaran - 202.8 million manat - 21.9 per cent, in Sheki-Zagatala - 98.7 million manat - 20.9 per cent, in Upper Karabakh - 39.32 million manat - 14.9 per cent, in Kalbajar-Lachin - 14.1 million manat - 22.1 per cent, in Nakhchivan - 81.2 million manat - 15.6 per cent.
As of November 1, 2013, the Azerbaijani banks reduced interest rates on loans in local and foreign currencies as compared to the figures for the same period of 2012, the Central Bank of Azerbaijan (CBA) said.
According to the report, the average rate on bank lending to the economy of Azerbaijan in national currency amounted to 14.33 per cent compared to 15.21 per cent as of November 1, 2012. The average rate on bank lending in freely convertible currency was 14.55 per cent compared to 15.45 per cent at the beginning of November 2012.
On November 1, 2013 the average rate on bank lending to legal entities in national currency amounted to 11.40 per cent compared to 13.12 per cent as of November 1, 2012. The average rate on bank loans to corporate clients in freely convertible currency was 10.98 per cent compared to 12.39 per cent in early November 2012.
As of November 1, 2013 the average rate on the bank lending to physical entities in national currency amounted to 18.35 per cent compared to 18.54 per cent as of November 1, 2012. The average rate on bank loans to individual clients in freely convertible currency was 20.70 per cent compared to 21.92 per cent in early November 2012.
Mortgage lending market
Around $ 456 million manat were drawn to finance 12,860 loans issued through the Azerbaijan Mortgage Fund (AMF) under the Central Bank loans. Around 176 million manat (39 percent of the total volume) of this amount were used to finance the social mortgage, while 280 million manat - conventional mortgage.
As of October 18, 2013, the volume of refinanced mortgage loans amounted to 402.12 million manat. Around 16.8 percent (67.41 million manat) of this amount fall to the preferential mortgage.
The authorized banks issued 12,862 mortgage loans, 82.06 percent of which - refinanced since the beginning of the AMF activity.
The table below shows the top 10 banks in Azerbaijan in terms of refinanced mortgage loans, which accounted for 76.6 percent:
|
Bank: |
Loans: |
|
Demirbank |
976 |
|
Zaminbank |
948 |
|
Xalq Bank |
914 |
|
Bank Standard |
907 |
|
AG Bank |
881 |
|
Bank Technique |
878 |
|
Muganbank |
810 |
|
Unibank |
700 |
|
Bank Respublika |
663 |
|
Kapital Bank |
410 |
|
Total: |
8 087 |
About 20 percent of the acquired mortgaged housing accounts for the Azerbaijani regions.
In particular, around 1,039 loans were issued in Sumgait (9.9 percent of the total number), 442 loans - in the Absheron ( 4.21 percent), 316 loans - in Ganja (3.01 percent), 50 loans (0.48 percent) - in Nakhchivan, 46 loans - in Lankaran (0.44 percent), 26 loans - in Khachmaz (0.25 percent), 18 loans - Shirvan and Guba (0.17 percent).
About two-thirds of the total number of mortgaged apartments purchased through the fund (65 percent) account for the housing worth from 30,000 to 60,000 manat. Around 25 percent fall to the apartments worth from 60,000 to 90,000 manat, four percent - facilities cheaper than 30,000 manat, three percent - housing worth from 90,000 to 120,000 manat, less than two percent - apartments worth more than 120,000 manat.
Currently, the maximum amount of a common mortgage loan through the AMF is 50,000 manat at a rate of eight per cent with a payback period of 25 years. Terms under the social mortgage are 50,000 manat at an annual rate of four per cent with a payback period of 30 years. The initial payment under the social mortgage is 15 per cent, whilst the conventional loan is 20 per cent.
Conditions of mortgage lending are as follows. Loans must be issued in Azerbaijani manats and only to Azerbaijani citizens and the mortgage can only be for an apartment or private house. The volume of mortgage lending must not exceed 80 per cent of the market price and the monthly payment must not exceed 70 per cent of the debtor's monthly income. It is compulsory to take out an agreement on life insurance.
Preferential conditions are granted to family members of war victims, national heroes, internally displaced persons, civil servants with at least a three years' experience, PhDs and those making special contributions to sport as well as to the military with at least a three-year service term. Each family having the right to such a mortgage can only use the opportunity once.
There are 31 authorised banks belonging to the Mortgage Fund. Around 21 insurance companies and 11 appraisal organisations are participants of the mortgage market.
Azerbaijan's banking sector
As of January-October 2013, the depositary base of Azerbaijani banks increased by 12.5 per cent and by 18 per cent per annum, the Azerbaijani Central Bank's (CBA) statistics report said.
According to the CBA, as of November 1, the total amount of bank deposits and deposits of physical and legal entities totaled 12.042.3 billion manat compared to 11.929.4 billion manat in the same period of 2012 and 10.699.2 billion manat as of early 2013.
Around 6.130.1 billion manat fell to cash in manat, of which 2.199.0 billion manat - demand deposits, 3.931.1 billion manat - term deposits. The funds in foreign currency amounted to 5.912.1 billion manat (1.628.2 billion manat and 4.283.9 billion manat, respectively).
Compared to the same period of 2012, deposits of physical entities increased by 34.4 per cent, while the volume of legal entities' deposits slightly increased by 4.09 per cent.
As of Jan.-Oct. 2013, the volume of physical entities' deposits in the banks amounted 6.303.4 billion manat compared to 4.689.7 billion manat in the same period of 2012.
According to the Central Bank, around 3.865.8 billion (61.3 per cent) of the population's funds were placed in the national currency - manat, while 2.437.5 billion manat - in freely convertible currency.
The Azerbaijani population's deposits in the national currency in the banks prevailed those in foreign currency in 2013. For comparison, around 2.704.3 billion manat (57.6 per cent) of the population's funds were placed in the national currency - manat, while 1.985.4 billion manat - in freely convertible currency in the first ten months of 2012.
In January-October 2013, the population's deposits attracted to Azerbaijan's banking system from regions, except Baku, amounted to 455.7 million manat or 7.23 per cent of the total volume of bank deposits.
According to the Azerbaijani Central Bank's statistics report, the volume of deposits in Baku amounted to 5.847.6 billion manat while those in the national currency amounted to 3.520.1 billion manat. The average percentage rate in the country hit 8 per cent, while it was 8.1 per cent in Baku during the reporting period.
The sum of deposits in the Absheron economic region amounted to 149.7 million manat, with an average rate of 9 per cent, Aran - 128.7 million manat at 7.4 per cent, the Mountain-Shirvan - 12.8 million manat at 6.2 per cent, Ganja-Gazakh - 55.84 million manat at 4.9 per cent, Guba-Khachmaz - 15.7 million manat at 6.1 per cent, Lankaran - 37.3 million manat at 7.7 per cent, Sheki-Zagatala - 18.5 million manat at 5.8 per cent, the Upper Karabakh - 10.4 million manat at 4.5 per cent, Kalbajar-Lachin - 6.3 million manat at 4.8 per cent and Nakhchivan - 20.3 million manat at 3.3 per cent.
As of January-October 2013, the volume of deposits of financial institutions amounted 3.067.8 billion manat compared to 2.732.5 billion manat in the same period of 2012.
The volume of deposits of non-financial institutions totaled 2.671 billion manat compared to 2.780.3 billion manat in the same period of 2012.
Total deposits of legal entities totaled 5.738.8 billion manat compared to 5.512.8 billion manat in the same period of 2012
As of Nov. 1, 2013, the Azerbaijani banks slightly reduced the interest rates on deposits in national currency and in foreign currency, a statistics report of the Central Bank of Azerbaijan (CBA) said.
According to the report, on Nov. 1, 2013 the average rate on deposits in manat was 9.43 per cent compared to 10.08 per cent on Nov. 1, 2012. The average rate on deposits in foreign currency amounted to 9.9 per cent compared to 10.3 per cent in early November 2012.
As of Nov. 1, 2013, the average rate on deposits of physical entities in manat was 9.83 per cent, while on Oct. 1, 2012, this figure was 10.37 per cent. The average rate on deposits of individual customers in foreign currency amounted to 10.35 per cent compared to 10.84 per cent in early Nov. 2012.
According to the report, in early Nov. 2013 the average rate on deposits of legal entities in manat amounted to 5.74 per cent compared to 6.96 per cent on Nov. 1, 2012. The average rate on deposits of corporate clients in foreign currency amounted to 3.71 per cent compared to 3.79 per cent in early Nov. 2012.
Banks' financial activity
The Azerbaijani Central Bank (CBA) stressed exceeding the total profit of profitable banks over the total loss of unprofitable banks by 22.1 times as of January-October 2013, the Azerbaijani Central Bank's statistics report said.
According to the report, 38 banks' profit hit 299.29 million manat, and losses of 5 banks - 13.54 million manat. This allowed the banking system to earn 285.75 million manat of net profit.
The number of profitable banks increased by 3, while the total profit of the sector increased by 35.48 percent compared to the same period of 2012. The number of unprofitable banks decreased from 8 to 5 and the total loss reduced by 6.7 times.
The number of profitable banks remained unchanged, while the total profit of the sector increased by 14.98 percent compared to the previous month of 2013. The number of unprofitable banks remained unchanged and the total loss decreased by 0.6 percent.
It should be stressed that the maximum rate of profit of the banking system to the amount of 299.29 million manat was reached during the period. This broke the record, which was recorded in 2009 at the level of 269.57 million manat. But as opposed to this period, the profit was reached as a result of 39 banks' activity in 2009.
As of October 2013, there was the largest net profit worth $ 285.75 million manat. Earlier, net profit received by the banks in 2009 - 252.98 million manat was the best result for this index.
|
Period |
Number of profitable banks |
The total profit of the banking system (profitable banks) |
Number of unprofitable banks |
The total loss of the banking system (unprofitable banks) |
Total profit (+) or loss (-) obtained by banks |
|
Nov.1, 2012 |
35 |
220,91 |
8 |
-90,73 |
130,18 |
|
Nov.1, 2013 |
38 |
299,29 |
5 |
- 13,54 |
285,75 |
In January-October 2013 the capitalisation of the banking sector of Azerbaijan increased by 34.4 percent to 3.23 billion manat as of Nov. 1 compared to the same period in 2012.
According to the CBA, the number of banks with capital exceeding 10 million manat reached 41 in the reporting period, while in January-October 2012 this number was 40. The specific weight of banks belonging to this category in the total capital of the country's banks amounted to 99.7 percent following the reporting period.
There have been no banks with capital formed within the limits of 5 million manat to 10 million manat since early 2013, while in October 2012 there was one bank in the country's banking market.
There were two banks with capital from 3.5 million manat to 5 million manat in the reporting period.
The specific weight of banks of this category in the total capital of all banks in the country amounted to 0.3 percent following the reporting period.
According to the Central Bank of Azerbaijan, as of November 1, 2013, the banks' assets amounted to 19.604.06 billion manat compared to 15.478.20 billion manat in the same period of last year.
According to the report, the bank assets increased by 26.7 percent per year, 0.04 percent in October and by 18.59 percent since early 2013.
The basis of the assets of the banking sector (69.9 percent) accounted for loans and advances paid to customers to the sum of 13.711.0 billion manat (a 31.8 percent increase per year), investments (1.594.4 billion manat with a 19.5 percent increase) and funds on correspondent accounts (1.006.7 billion manat with an increase of 19.9 percent).
Loans and deposits to the financial sector amounted to 809.1 million manat with a growth of 8.9 percent.
The lion share in the structure of liabilities accounts for deposits standing at 8.594.3 billion manat as of November 1, 2013, showing an increase of 19.3 percent compared to the same period last year. Loans and deposits from the financial sector amounted to 6.535.0 billion manat, increasing by 35.3 percent.
Payment card market
The number of payment cards in Azerbaijan slightly reduced by 0.3 per cent to 5.363 million units in October compared to September.
However their number increased by 8.0 per cent compared to the same period of 2012.
According to the report, the total turnover on payment cards via ATMs and POS-terminals amounted to 901 million manat and the total number of transactions to 6.101 million units in October.
The number of transactions on debit cards equalled 4.96 million units to the amount of 741 million manat.
Around 4.129 million transactions amounting to 673 million manat of the total number of transactions on debit cards were implemented via ATMs within the country and around 579,000 transactions amounting to 49 million manat via POS-terminals.
At least 1,137 transactions worth 160 million manat were implemented on credit cards in October 2013.
As many as 341,000 transactions amounting to 80 million manat of the total number of transactions on credit cards were implemented via ATMs and around 579,000 transactions amounting to 49 million manat via POS-terminals, the report said.
As of November 1, 2013, around 2,397 ATMs operated in the country, about 1,351 of which are located in Baku and 1,046 in other cities and regions of the country. Their total number increased by 171 units or 7.7 per cent per year.
The number of POS-terminals amounted to 35,039 units, around 30,897 of which are installed in Baku and 4,142 units in other cities and regions as of November 1, 2013.
The number of POS-terminals has decreased by 1,616 units or by 4.4 per cent since October 2012.
Stock market
The total turnover of transactions on all instruments on the Baku Stock Exchange (BSE) in January-October 2013 totaled 5.782 billion manat, or by 30 percent less compared to the same period of 2012.
Such a decrease in stock market in the country caused by decrease in the state securities market by 36.6 percent, while the corporate securities market increased by 43.5 percent.
According to the statement, the volume of the state securities market exceeded 4.795 billion manat in January-October and the volume of corporate securities reached to 986.91 million manat.
Comparative table on the results of trades on corporate sector at BSE (January-October 2013):
|
Market segments |
31.10.2013 |
31.10.2012 |
Percentage ratio |
||
|
Volume of transactions. AZN |
Number of deals |
Volume of transactions. AZN |
Number of deals |
||
|
Corporate bonds- (placement) |
93 636 359.60 |
67 |
37 535 335.00 |
72 |
249.46% |
|
Corporate bonds - (secondary market) |
528 202 337.28 |
162 |
285 264 342.71 |
104 |
185.16% |
|
Stocks - (placement) |
350 465 609.69 |
292 |
354 986 325.77 |
207 |
98.73% |
|
Stocks -(secondary market) |
14 602 393.78 |
2 970 |
9 970 172.94 |
2 850 |
146.46% |
|
CS Market Total |
986 906 700.35 |
3 491 |
687 756 176.42 |
3 233 |
143.50% |
Comparative table on the results of trades on state sector at BSE (January-October 2013):
|
Market segments |
31.10.2013 |
31.10.2012 |
Percentage ratio |
||
|
Volume of transactions. AZN |
Number of deals |
Volume of transactions. AZN |
Number of deals |
||
|
GB - (AR MF) (placement) |
81 353 079.68 |
43 |
90 520 502.37 |
47 |
89.87% |
|
GB - (AR MF) (secondary market) |
28 517 228.09 |
11 |
18 146 719.85 |
15 |
157.15% |
|
Notes (AR CB) - (placement) |
259 862 229.59 |
96 |
771 824 818.01 |
193 |
33.67% |
|
Notes (AR CB) - (secondary market) |
43 955 612.02 |
4 |
12 486 939.02 |
8 |
352.01% |
|
Repo operations |
4 381 699 744.68 |
430 |
6 669 760 155.49 |
905 |
65.70% |
|
CS Market Total |
4 795 387 894.06 |
584 |
7 562 739 134.74 |
1 168 |
63.41% |
Abbreviations:
- GB - government bonds,
- GS - government securities,
- CB - corporate bonds
- CSC- corporate securities