Review of monetary sector in Azerbaijan (2013 year)

The Azerbaijani banking market continued its development in 2013. According to the Central Bank of Azerbaijan (CBA), the financial stability of banks strengthened in 2013. The asset quality, liquidity and profitability improved. The capital adequacy of the sector remained at a high level - 17.6 percent compared to required 12 percent.

Foreign exchange reserves held by the Central Bank of Azerbaijan (CBA) as of 2013 amounted to $14.152 billion. CBA foreign exchange reserves increased by 21 percent or $ 2.46 billion in annual terms. For comparison, as of December 31, 2012, there was $11.69 billion at CBA's disposal. As of the first quarter of 2013, the volume hit $12.33 billion. The Central Bank's foreign exchange reserves increased by $387.8 million and reached 12.72 billion in the second quarter. The dynamics of growth of foreign exchange reserves of the Central Bank maintained in July-December. Their volume hit $13.26 billion as of the third quarter.

The financial results were also positive. The number of banks operating with profit has been increased. Today, the return on assets (ROA) in the entire sector is two percent, return on equity (ROE) - 15 percent.

2013 on the country's banking market was primarily marked by the processes of increasing the capitalization of the sector and toughening of the regulator requirements for credit operations of banks.

Capital requirements delayed

CBA extended the deadline for the banks' requirements for bringing the minimum total capital to 50 million manat until January 1, 2015.

According to the initial decision, the banks, operating in Azerbaijan, had to have a minimum of 50 million manat from January 1, 2014.

The banks' capital has been increased by 57 percent or 1.2 billion manat, exceeding 3.4 billion manat for 16 months [since making this decision].

The banks should have submitted own programs for capitalization to the Central Bank until January 15.

The banks that will fail to bring the capital to the required level, will be able to transform into the non-bank credit organizations. The Central Bank began working on an appropriate legislative framework in 2013.

Banks stop issuing loans out of branches and offices

The Central Bank of Azerbaijan (CBA) banned the commercial banks to issue consumer loans in retail trade points in February. They can be delivered in a centralized manner at the banks.

CBA explained this decision as an increase in consumer loan default.

Earlier, many banks cooperated with the centers selling cars, furniture, electrical equipment, mobile phones and giving out the loans on the spot. The banks opened their points in trade centers to accelerate and simplify the issuance of loans and formalized them.

Later, the CBA announced that banks have stopped rendering banking services outside their branches and offices and the controller did not have to resort to any sanctions.

Control over consumer protection strengthened

CBA instructed the commercial banks to publish the actual annual interest rates on loans on their websites or in advertising campaigns.

The payments on the main amount of the loan, interest and fees on the loan, the loan servicing costs associated with opening and maintaining the loan account, insurance costs, administrative and all other costs must be taken into account during calculation.

Interest rate ceiling on insured deposits decreased

Azerbaijan Deposit Insurance Fund (ADIF) has reduced the percentage ceiling on insured deposits from 12 to 10 percent.

In this case, the fund has not changed the maximum level of insurance coverage for one deposit which is at 30,000 manat

Compensation of deposits at bankrupt bank

The deposits in the bankrupt bank have been returned this year for the first time in the history of sector.

ADIF completed the payment of compensation to RoyalBank depositors in July 2013. Its license was revoked in July 2012.

The bank was declared bankrupt upon the court decision, and its closure was recognized as an insurance case.

As a result, ADIF paid 88.8 percent from a reimbursable amount, namely 13 million manat.

Preparation for private credit bureau establishment

A technology partner of the first private credit bureau will be chosen in Azerbaijan soon. Following the relevant tender, a shortlist includes Italian CRIF and Iceland Creditinfo. Both companies have already made ​​a presentation of the technical part of their proposals.

At the next stage, the representatives of the Organizing Committee of the Bureau plan to pay a visit to familiarize with the candidates' proposed decisions. The visit is scheduled for January 26. The negotiations on concluding the contract are scheduled for the first quarter of 2014.

A technical partner will get a controlling stake (51 percent stake in the capital) of the bureau, the rest part will be distributed among the participants of the executive committee.

Access Bank, AGBank, Azerbaycan Senaye Bankı, Bank Respublika, Demir Bank, Muganbank, PASA Bank, Turan Bank, Yapı Kredit Bank Azerbaijan and UniBank are the potential shareholders of the bureau.

A bill that would regulate the activity of the country's private credit bureaus, may be submitted for consideration to the Azerbaijani Parliament at the next spring session, CBA Director General Rashad Orujov told Trend. He expressed the hope that the first private credit bureau in Azerbaijan will begin its activity next year.

After the private credit bureaus begin working, CBA will limit the activity of the Centralized Credit Registry.

Recapitalization of the International Bank of Azerbaijan

Shareholders of International Bank of Azerbaijan adopted the concept of increasing the share capital by 500 million manat for four years. As a result, the share capital of the country's largest bank will exceed 868 million manat.

At the initial stage, the capital has increased by 200 million manat. It will further increase by 100 million manat annually.

Currency market and manat rate

The excessive appreciation of the national currency rate was prevented in 2013 in terms of significant balance of payments surplus and active spending of growing cash revenues for socio-economic development. The foreign currency to the amount of $ 2.1 billion was withdrawn from the market. As a result, the rate of manat to the U.S. dollar has appreciated by 0.08 percent since the beginning of the year.

Today Azerbaijan manat is the most stable and reliable currency in the region.

Foreign exchange market

Baku Interbank Currency Exchange (BBVB) gives the statistics for its operations in 2013.

Eight banks held 20 transactions at 46 trading sessions in Bourse E-System of Trades (BEST) in December 2013.

The total trading volume in the currency section on USD / AZN (spot) totaled 34.495 million manat or $43.975 million in reporting month.

The trading volume in the currency section increased by 10 percent or 3.152 million manat in December compared to November.

The average daily turnover in the exchange electronic trading system on USD / AZN in December reached about $1.912 million, while the average amount of each transaction was $2.199 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 December 2013.

There were no trading on the interbank credit market functioning as part of BEST in December as in September-November. As of July, the volume of trading on this market hit 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 December 2013 amounted to 10.23 percent per annum in manat and 10.66 percent per annum in U.S. dollars. The rate on BakIBID up to 90 days was 4.60 percent per annum in manat and 4.59 percent in U.S. dollars.

As of 2013, BBVB turnover on U.S. currency reached 403.644 million manat or $512.752 million (spot) and 414.987 million manat or $527.752 million taking into account swap.

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.

As of 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 19.04 percent compared to January-December 2012.

According to the Central Bank of Azerbaijan (CBA), as of 2013, the rate of M2 was 16.434.8 billion manat compared to 13.806.4 billion manat in 2012.

The amount of cash money supply (M0) increased by 12.99 percent and amounted to 10.458.7 billion manat compared to 9.256.6 billion manat in 2012.

As of 2013, Broad Money Supply (M3) totaled 19.359.8 billion manat or 15.41 percent more compared to 2012 (16.775.3 billion manat).

The transaction money (M1) increased by 14.67 percent and amounted to 12.736.9 billion manat compared to 11.107.9 billion manat in 2012.

Parameters of monetary market, in million manat:

Amount as of Jan.1, 2014

Money mass in extensive understating (М3)

19359,8

Money mass on manat (М2)

16434,8

Cash in manat (М0)

10458,7

Non-cash in manat

5976,1

The share of non-cash payments in the country's money circulation increased from 13.5 percent in 2005 to 36.4 percent at the beginning of the year (as of January 1, 2013, the figure was 32.95 percent). Azerbaijan has set a task to achieve the level of countries - major trade partners.

The economists think that the acceleration of cashless payments for a day gives an annual GDP growth of 1.5-2 percent. In particular, the decrease in the volume of cash in the country's economy entails a reduction in the cost of cash servicing, reduces the volume of the shadow economy, tax evasion and gives an impetus to the development of the bank turnover.

Currently, the share of non-cash payments in Azerbaijan's GDP is 10.36 percent (8.43 percent as of 2012), whereas this figure hits 40-45 percent in the Baltic countries, 32 percent in Russia, 25 percent in Turkey. This index in Azerbaijan increased from two percent in 2005, but there is still a lot to do in this area.

An increase in the volume of cashless payments is one of the main sources of significant expansion of the tax base. So, Azerbaijan intends to achieve the level of advanced European countries in the near future.

The monetary base in Azerbaijan demonstrated a steady growth in 2013 and as of January 1, 2014, the expanded monetary base in the country amounted to 11.793.1 billion manat.

The monetary base increased by 10.63 percent in a year, according to the Central Bank of Azerbaijan (CBA). For comparison, this figure amounted to 10.660.3 billion manat in 2012.

As of Jan.1, 2014, the monetary base in manat amounted to 11.642 billion manat compared to 10.515 billion manat as of Jan.1, 2012, according to the CBA.

During the reporting period the volume of money in circulation amounted to 11.033.3 billion manat, while as of Jan.1, 2013, this figure was 9.777.5 billion manat.

The ratio of cash money mass in circulation to the monetary base amounted to 93.6 percent as of Jan.1, 2014 compared to 91.7 percent as of Jan.1, 2013.

In turn, bank reserves were equal to 749.2 million manat which is 13.75 percent less than the 868.6 million manat in 2012.

Currently, a moderate monetary policy is being pursued by Azerbaijan. The discount rate is 4.75 percent with inflation at 2.4 percent as of 2013 and required reserves at three percent.

Azerbaijan's loan market

Azerbaijani banks increased lending to the economy by 25.97 percent in 2013.

The banks delivered loans totaling 15.422.9 billion manat including 11.076.6 billion manat (71.82 percent) in national currency and 4.346.3 billion manat (28.18 percent) in freely convertible currency for the reporting period, according to the Azerbaijani Central Bank.

For comparison, the figure was equal to 12.243.7 billion manat (8.422.8 billion manat in national currency and 3.820.9 billion manat in freely convertible currency) in 2012, while as of early 2013.

Of the total portfolio, loans worth 792.8 million manat (5.14 percent) were overdue compared to 748.8 million manat as of 2012. Statistics of overdue loans does not include similar loans of the non-banking credit institution Aqrarkredit. Overdue loans increased by 5.88 percent per year.

Short term loans amounted to 3.335.5 billion manat including overdue loans worth 362.1 million manat compared to 3.508.3 billion manat including overdue loans worth 385.4 million manat as of 2012. The volume of short term loans in the economy decreased by 5 percent per year. As of 2013, some 31.12 percent of short term loans fell to the freely convertible currency (1.038.1 billion manat).

As of 2013, the volume of long term loans amounted to 12.087.5 billion manat including 430.6 million manat in overdue loans compared to 8.735.4 billion manat including 363.4 million manat of overdue loans as of 2012. Long term loans increased 39.24 percent in a year. The volume of long-term loans increased by 38.4 percent per year. As of 2013, 27.4 percent of long term loans accounted for freely convertible currency (3.308.2 billion manat).

The credit portfolio of the only state bank in the country, the International Bank of Azerbaijan, hit 5.300.4 billion manat with a specific weight of 34.4 percent, while private banks issued loans worth 9.689.4 billion manat with a specific weight of 62.8 percent. The remaining 2.8 percent fell to the share of non-bank credit organizations. They issued 433.1 million manat, according to the CBA.

Most of all loans are granted to households in Azerbaijan. As of 2013, households received 40.3 percent or 6.214.7 billion manat, according to the CBA.

The construction and real estate sector (15.3 percent or 2.362.6 billion manat) ranks second, the trade and services (14.4 percent or 2.219.9 billion manat) ranks third.

The industrial and production sector received 9.8 percent of the total lending amount of the Azerbaijani real sector, which hits 1.516.4 billion manat in nominal terms.

Some 3.3 percent (506 million manat) fall to the transport and communication, 4.8 percent (733.3 million manat) - agriculture and processing, 1.9 percent (288.2 million manat) - energy, chemistry, and natural resources, 10.2 percent or 1.573.13 billion manat loans - on the other spheres.

The loans, delivered to the population in Azerbaijan's regions, amounted to 2.100.3 billion manat in 2013, or 13.62 percent of the total loan portfolio of banks, Central Bank of Azerbaijan (CBA) said.

In Baku this figure amounted to 13.322.6 billion manat, where the loans in the national currency accounted for 9.464.3 billion manat. As of 2013, the average interest rate on loans in the country was 14.2 percent, and in Baku - 13.3 percent, according to the CBA.

The crediting volume in Absheron economic region amounted to 459.3 million manat at an average rate of 18.3 percent, in Aran - 741.3 million manat at a rate of 19.9 percent, in Mountain-Shirvan - 74.36 million manat at a rate of 22 percent, in Ganja - Gazakh - 268.6 million manat - 20.7 percent, in Guba-Khachmaz - 80.97 million manat - 21 percent, in Lankaran - 218.4 million manat - 21.6 percent, in Sheki-Zagatala - 112.4 million manat - 19.8 percent, in Upper Karabakh - 42.6 million manat - 15 percent, in Kalbajar-Lachin - 15.6 million manat - 21.8 percent, in Nakhchivan - 86.7 million manat - 14.4 percent.

As of January 1, 2014 the Azerbaijani banks have reduced interest rates on loans in local and foreign currencies, as compared with the data for January 1, 2013.

The average rate on bank lending to the economy in national currency totalled 14.13 percent, compared to 15.20 percent on January 1, 2013, according to a statistical report from the Central Bank of Azerbaijan (CBA).

The average rate on bank lending in freely convertible currency was 14.39 percent compared to 15.80 percent in early January 2013.

As of January 1, 2014, the average rate on bank lending to legal entities in national currency amounted to 11.52 percent, compared to 13.32 percent as of January 2013.

The average rate on bank lending of corporate clients in freely convertible currency was 10.76 percent compared to 13.22 percent in early January 2013.

As of January 1, 2014 the average rate on bank lending to individuals in national currency was 17.65 percent, compared to 18.25 percent on January 1, 2013.

The average rate on bank loans to individual customers in freely convertible currency was 20.74 percent compared to 22.06 percent in early January, 2013.

Mortgage lending

In 2013, the Azerbaijan Mortgage Fund (AMF) under the Azerbaijani Central Bank delivered loans amounting to 112.9 million manat, or 50.1 percent more than the volume of financing in 2012.

Mortgage loans worth 533.09 million manat have been delivered since launching financing through the AMF, including 74.77 million manat - in 2012, 95.64 million manat - in 2011, 97.08 million manat - in 2010, 76.9 million manat - in 2009, 70.2 million manat - in 2007 and 5.6 million manat - in 2006.

The total amount of refinancing the loans delivered by the banks earlier hit 86.9 million manat in 2013.

The AMF placed bonds worth 57 million manat since the beginning of the year.

The funds from placing these bonds are spent to finance conventional mortgages.

Some 40 million manat were allocated from the state budget to finance the social mortgage in 2013.

The average amount issued by AMF authorized banks is 39,474 manat, the average loan amount - 278 manat, interest rate - 6.88 percent, the average monthly payment - 319.9 manat.

Around 72 percent of the total volume of given loans, that is 39 percent of borrowers aged 18-29 and 33 percent - 30-35 years-old, fell to young people and families. Around 28 percent of the loans fell to borrowers older than 36.

There are 31 authorized banks belonging to the Mortgage Fund. Around 21 insurance companies and 11 appraisal organizations are participants in the mortgage market.

Azerbaijan's banking sector

As of 2013, the depositary base of Azerbaijani banks increased by 16.6 percent per annum, the Azerbaijani Central Bank's (CBA) statistics report said.

As of December 1, the total amount of bank deposits and deposits of physical and legal entities totaled 12.475.8 billion manat compared to 10.699.2 billion manat as of late 2012, according to the CBA.

Around 6.410.9 billion manat fell to cash in manat, of which 2.326.6 billion manat - demand deposits, 4.084.3 billion manat - term deposits. The funds in foreign currency amounted to 6.064.9 billion manat (1.441.7 billion manat and 4.623.2 billion manat, respectively).

The deposits of physical entities increased by 25.08 percent, while the volume of legal entities' deposits slightly increased by 8.85 percent compared to 2012.

As of 2013, the volume of physical entities' deposits in the banks amounted 6.395.8 billion manat compared to 5.113.4 billion manat in 2012.

Around 3.888.3 billion (60.8 percent) of the population's funds were placed in the national currency - manat, while 2.507.5 billion manat - in freely convertible currency, according to the Central Bank.

The Azerbaijani population's deposits in the national currency in the banks prevailed those in foreign currency in 2013. For comparison, around 2.963.9 billion manat of the population's funds were placed in the national currency - manat, while 2.149.6 billion manat - in freely convertible currency as of 2012.

The population's deposits, attracted to Azerbaijan's banking system from the country's regions (except for Baku), stood at 476.2 million manat (or at 7.4 percent of total bank deposits) in 2013.

In Baku the volume of deposits stood at 5.919.6 billion manat, while the deposits in national currency accounted for 3.519.9 billion manat, according to the statistics report from the Central Bank of Azerbaijan (CBA). The average interest rate in the country totaled 8.3 percent as in Baku during the reporting period.

The amount of deposits in Absheron economic region totaled 161.5 million manat at an average rate of nine percent, Aran economic region - 135.5 million manat at a rate of 7.6 percent, Mountain-Shirvan - 13.3 million manat - 6.3 percent, Ganja-Gazakh - 51.7 million manat - 5.7 percent, Guba-Khachmaz - 16.3 million manat - 6.8 percent, Lankaran - 40.4 million manat - 7.8 percent, Sheki-Zagatala - 19 million manat - 6.1 percent, Upper Karabakh - 9.9 million manat - 5.43 percent, Kalbajar-Lachin - 6.1 million manat - 5.4 percent, Nakhchivan - 22.5 million manat at an average rate of 3.2 percent.

As of 2013, the volume of deposits of financial institutions amounted 3.261.5 billion manat compared to 2.783 billion manat as of 2012.

The volume of deposits of non-financial institutions totaled 2.818.4 billion manat compared to 2.802.9 billion manat as of 2012.

The total deposits of legal entities totaled 6.080 billion manat compared to 5.585.8 billion manat as of 2012.

As of Jan. 1, 2014, Azerbaijani banks slightly reduced the rate on deposits in manat and in freely convertible currency, according to a statistics report of the Central Bank of Azerbaijan (CBA).

The average rate on deposits in manat as of January 1, 2014 was 9.42 percent compared to 9.99 percent as of January 1, 2013. The average rate on deposits in foreign currency amounted to 9.66 percent compared to 10.18 percent as of early January 2013, according to the report.

As of January 1, 2014, the average rate on physical entities' deposits in manat was 9.81 percent compared to 10.25 percent as of January 1, 2013. The average rate on individual clients' deposits in foreign currency amounted to 10.23 percent compared to 10.75 percent as of early 2013.

As of early 2014, the average rate on legal entities' deposits in manat was 5.74 percent compared to 6.95 percent as of January 1, 2013, according to the report.

The average rate on corporate clients' deposits in foreign currency was 2.98 percent compared to 3.69 percent as of early 2013.

Banks' financial activity

As of 2013, there were 43 banks - 42 commercial banks and one state-owned bank in Azerbaijan. There are 22 banks with foreign capital. The share of foreign capital in seven of them is from 50 to 100 percent, in 13 banks - up to 50 percent. There are also two local branches of foreign banks.

The Azerbaijani Central Bank (CBA) stressed it exceeded the total yield of profitable banks over the total loss of unprofitable banks by almost 57.3 times as of 2013.

Around 39 banks' profit reached 272.32 million manat, and losses of three banks were 4.75 million manat, according to the report. This allowed the banking system to earn 267.57 million manat of net profit.

The number of profitable banks increased by one and the total profit of the sector decreased by 21.5 percent in December compared to November, 2013. The number of unprofitable banks reduced from five to four and the total loss reduced by almost 2.68 times.

The maximum profit of the banking system was recorded in November 2013 at the level of 346.89 million manat earned by 38 banks, the report said. The maximum volume of net profit was earned by banks in the same months to the sum of 334.16 million manat.

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

Jan.1, 2013

33

195.51

10

-65.50

130.01

Jan.1, 2014

39

272.32

4

- 4.75

267.57

The capitalization of Azerbaijan's banking sector increased by 32.42 percent in 2013 compared to 2012 and amounted to 3.39 billion manat as of January 1.

There were 41 banks with the capital worth over 10 million manat as of the reporting period as in 2012. The specific weight of this category in the total volume of capital of all the country's banks amounted to 99.8 percent as of the reporting period, according to the Central Bank of Azerbaijan (CBA).

There were no banks with the capital ranging from five million manat to ten million manat in 2013, while there was one such bank in the county's banking market as of 2012.

There were two banks with capital ranging from 3.5 million manat to five million manat as of the reporting period. The specific weight of this category in the total volume of capital of the country's all banks amounted to 0.2 percent as of the reporting period.

The Central Bank's requirement for the minimum amount of total capital of banks is set at 50 million manat by late 2014.

As of January 1, 2014, the assets of the Azerbaijani banking sector amounted to 20.385.10 billion manat compared to 16.530.41 billion manat in 2012.

The bank assets increased by 23.32 percent per year, according to the Central Bank of Azerbaijan's report.

The basis of the assets of the banking sector (69.5 percent) accounted for loans delivered to the clients to the sum of 14.175.7 billion manat (a 32.7 percent increase per year), investments (1.641.6 billion manat with a 2.5 percent increase) and funds on correspondent accounts (1.179.8 billion manat with a decrease of 18.3 percent).

Loans and deposits to the financial sector amounted to 904 million manat with a growth of 29.9 percent.

The lion share in the structure of liabilities accounts for deposits standing at 8.879.3 billion manat as of January 1, 2014, showing an increase of 15.15 percent compared to 2012. Loans and deposits from the financial sector amounted to 6.811.6 billion manat, increasing by 31.7 percent.

Payment card market

The number of payment cards in Azerbaijan slightly increased by 2.8 percent to 5.673 million in December 2013 compared to November 2013, the Azerbaijani Central Bank said.

The total turnover on payment cards via ATMs and POS-terminals amounted to 1.149 million manat and the total number of transactions to 7.196 million units in December, according to the report.

The number of transactions on debit cards equalled 5.81 million units to the sum of 946 million manat.

Around 4.814 million transactions amounting to 856 million manat of the total number of transactions on debit cards were implemented via ATMs within the country and around 706,000 transactions amounting to 69 million manat via POS-terminals.

Some 1,380 transactions worth 203 million manat were implemented on credit cards in December 2013.

As many as 436,000 transactions amounting to 100 million manat of the total number of transactions on credit cards were implemented via ATMs and there were 724,000 transactions amounting to 50 million manat via POS-terminals, the report said.

As of January 1, 2014, around 2,422 ATMs operated in the country of which 1,366 are located in Baku and 1,056 in other cities and regions of the country. Their total number increased by 162 units or 7.2 percent per year.

The number of POS-terminals amounted to 33,285 units of which 28,940 are installed in Baku and 4,345 units in other cities and regions as of January 1, 2014.

The number of POS-terminals has decreased by 3,575 units or by 9.7 percent compared to December 2012.

Stock market

The total turnover of transactions on all instruments on the Baku Stock Exchange (BSE) in 2013 totaled 8.476 billion manat, or by 18.42 percent less compared to 2012, a message of the stock exchange said on Jan.8.

Such a decrease in the country's stock market caused by decrease in the state securities market by 12.43 percent, while the corporate securities market increased by 52.88 percent.

The volume of the state securities market exceeded 7.086 billion manat in 2013 and the turnover of corporate securities market hit 1.388 billion manat.

Comparative table on the results of trades on corporate sector at BSE (January-December 2013):

Market segments

31.12.2013

31.12.2012

Percentage ratio

Volume of transactions. (manat)

Number of deals

Volume of transactions. (manat)

Number of deals

Corporate bonds- (placement)

152 791 623.42

96

60 713 670.00

81

251.66 percent

Corporate bonds - (secondary market)

790 966 126.89

229

343 409 666.86

131

230.33 percent

Stocks - (placement)

423 163 180.89

349

488 028 562.76

548

86.71 percent

Stocks -(secondary market)

21 440 318.04

3 505

15 958 952.50

3 413

134.35 percent

CS Market Total

1 388 361 249.24

4 179

908 110 852.12

4 173

152.88 percent

Comparative table on the results of trades on state sector at BSE (January-December 2013):

Market segments

31.12.2013

31.12.2012

Percentage ratio

Volume of transactions (manat)

Number of deals

Volume of transactions (manat)

Number of deals

GB - (AR MF) (placement)

98 048 951.72

51

141 740 610.04

72

69.17 percent

GB - (AR MF) (secondary market)

36 556 828.09

14

25 713 253.59

23

142.17 percent

Notes (AR CB) - (placement)

299 828 637.61

105

859 032 852.54

227

34.90 percent

Notes (AR CB) - (secondary market)

43 955 612.02

4

210 732 784.43

37

20.86 percent

Repo operations

6 609 110 630.25

583

6 856 471 656.45

948

96.39 percent

CS Market Total

7 087 500 659.69

757

8 093 691 157.05

1 307

87.57 percent

Abbreviations:

- GB - government bonds,

- GS - government securities,

- CB - corporate bonds

- CSC- corporate securities

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Kazakhstan's Kuryk port boosts cargo handling, launches direct link to Iran
Turkmenistan has sufficient reserves to mitigate effects of pandemic - IMF
Volume of cargo transportation of Azerbaijan’s Nakhchivan Autonomous Republic drops
Kazakhstan to localize production of German agricultural machinery's popular models
Iran’s Bahar Azadi gold coin price continues to fall
Georgian-produced ski equipment to be exported to Europe
Kazakhstan decreases exports to Italy year-on-year
Volume of goods released from Iran’s customs checkpoints announced
Turkmengas opens tender for purchase of instrumentation
Investments in Iran’s Kerman Province increase
Azerbaijani refugees from Kalbajar visit Martyrs Alley (PHOTO)
FM talks on possible Azerbaijan-Armenia peace treaty to French Le Point
Azerbaijan shows new footage of Azerbaijani army units entering Kalbajar (PHOTO/VIDEO)
Armenia must answer for war crimes - Azerbaijani FM
Iran’s South Pars Gas Company opens tender to buy equipment
Uzbekistan eyes to maintain macroeconomic stability in 2021
Volume of loans issued by commercial banks down in Georgia
Cable TV operators ready for full deployment in liberated Azerbaijani territories
Activities of private sector in Iran can put end to economic problems - analyst
Georgia increases export of precious metal ores and concentrates
During Karabakh hostilities, Turkey responded to political pressure exerted on Azerbaijan - ambassador
Oil shrugs off U.S. inventory gain helped by vaccine hopes
Total volume of non-bank deposits in Georgian banking sector down
Return of Kalbajar region to Azerbaijan has not only important political but also economic significance - Georgian expert
Number of bank accounts registered in Nakhchivan over 10M2020 unveiled
Azerbaijan's gold company reveals profits
Two facilities in Iran’s oil sector to be put into operation
Baku residents hold rally celebrating Kalbajar's liberation (PHOTOS)
Georgia reveals data on persimmons and caraway seeds exports
Turkmenistan’s growth model relies on large-scale public investments - IMF
Four dead as migrant boat capsizes off Canary Islands, more missing
Kazakhstan’s joining UPOV could help improve lives, provide for economic dev't
SOCAR reveals volume of transshipment through Kulevi terminal
First VP Mehriban Aliyeva congratulates Azerbaijani people on liberation of Kalbajar (PHOTO)
Cargo handling at Kazakhstan's Aktau seaport decreases over 10M2020
Foreign trade turnover of Azerbaijan’s Nakhchivan Autonomous Republic increases
Iran reveals its COVID-19 data for November 25
Life insurance in Azerbaijan occupies about half of all insurance fees - association
SOCAR and LUKOIL eye expanding co-op
Baku Stock Exchange hosts auction for CBA's short-term notes
Concerns of some OSCE MG co-chairing countries don't matter - Erdogan
Kazakhstan boosts passenger cars manufacturing within 10M2020
Turkmen IT company to create first online platform of Union of Industrialists, Entrepreneurs
Azerbaijan to export medical masks to Russia and Germany
UNESCO to take part in protection of cultural, religious heritage in Karabakh
Iran says ready to return to Jan 20, 2017
Iran talks banking obstacles
Azerbaijan disclose data on investments in local renewable energy projects
Iran prevented release of German home appliances from customs
Kazakhstan’s oil producing company opens tender to buy spare equipment parts
Turkmen company provides domestic market with products made of polyethylene
Production of agricultural products increases in Azerbaijan’s Nakhchivan Autonomous Republic
Azerbaijani soldiers created conditions for Armenian population to leave village in Aghdam - president
Iran reveals data on new enterprises in free trade zones
Pashinyan, where did you sign the act of capitulation? - President Aliyev
When Pashinyan put forward seven conditions to us, I said: I have only one condition: get out of our land - President Aliyev
Azerbaijan's Nakhchivan reveals data on GDP
Amount of loans issued for agricultural machinery in Iran spikes
Those who want to accuse us of something should first of all look in mirror - President Aliyev
When we drove enemy out of Shusha, it destroyed water line feeding city - President Aliyev
Global LNG prices expected to strengthen in 2021
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