The total capital of the Azerbaijani banking sector doubled in 2014, the chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov said at the CBA enlarged meeting as of 2014.
"The stability and sustainability of the banking sector, which actively supported the development and diversification of the economy, was ensured in 2014," he said. "After making a decision on the capitalization, the total capital of banks increased two-fold. Currently, the adequacy of capital is 19 percent compared to the international norm of eight percent."
Rustamov said that at present, the quality of the banks' assets is satisfactory.
"In 2014, the assets of the banking sector increased by 21 percent, the loan portfolio of banks - by 18 percent," he said. "The long-term loans increased by 19 percent. The share of business loans in the loan portfolio of banks was 73 percent. Their growth was 18 percent during the year. Lending of the districts increased by 39 percent."
The central bank regulated the growth of consumer lending to prevent high financial risks in 2014. This figure decreased by 1.9 times by reaching 19 percent (13 percent without mortgage loans) of the total loan portfolio compared to 2013. The volume of car loans reduced by 31 percent.
"The interest rates continued declining in 2014," he said. "The average interest rates have recently reduced from 18 percent to 14 percent, including up to ten percent - business loans."
The capitalization of banks continued. The banks with low potential of capitalization were intensively controlled. The total capital of banks have increased by 95 percent or by two billion AZN and reached 4.2 billion AZN since the decision on capitalization was made on August 2012. As a result, the capital of banks with 99 percent of the assets of the sector exceeded 50 million AZN.
Rustamov said that the number of plastic cards reached 5.9 million units. The card transaction volume increased by 2.5 times for the last seven years. The number of POS-terminals increased by more than twice.
During the board meeting, it was also stressed that as of late 2014, the Central Bank's foreign exchange reserves reached $ 13.8 billion.
In the reporting period, the expansion of geographic diversification and foreign exchange reserves were the main direction of the Central Bank in the management of foreign exchange reserves. The measures were taken for the first time to create an investment portfolio in Asia.
While summing up the meeting, Rustamov appreciated the results of 2014 and drew attention to the further challenges.
"The active support for macroeconomic stability will be the main objective of the Central Bank in 2015 as it is a major factor in the continuation of economic development and ensuring the social protection of the population," he said. "In this regard, the CBA will take advantage of the monetary policy, in particular, the monetary easing tools."
The financial stability is also one of the strategic priorities for 2015. The immunization activities will continue in the banking sector and the risks will be rapidly regulated. The measures will be continued to reduce the interest rates. In this regard, the stimulation of drawing long-term loans in the banking sector plays a special role.
Currency market and AZN rate
The AZN rate in 2014 remained stable. It is known that real currency crises occurred in some countries under the influence of external and internal factors in 2014. As a result, a number of national currencies were subjected to the devaluation. Russian ruble reduced by 80 percent, Kazakh tenge - 19 percent, Turkmen manat - 22 percent, Belarusian ruble - 17 percent, Ukrainian hryvnia - 90 percent, Turkish lira - 8 percent.
The AZN rate is an important factor in the macroeconomic, financial and, especially, social stability. The stable exchange rate prevents a decrease in income and savings of the population. It is the most important factor in ensuring stability in the corporate and financial sectors. A number of international agencies have recently recognized AZN as the most stable and reliable currency in the Commonwealth of Independent States and Eastern Europe. Its positive prospects were stressed. Despite the psychological pressure in connection with the complex processes in neighboring countries and regions, the AZN rate was stable in 2014 as a result of the measures. The Central Bank has taken measures to rapidly regulate the cash and in non-cash segments of the foreign exchange market.
The AZN rate has kept its stability compared to the U.S. dollar since early 2014. The AZN rate compared to the U.S. dollar appreciated by 1 point in 2014, amounting to 0.7844 AZN per dollar as of the end of the reporting period. The exchange rate precession of 0.7843 AZN versus $1 has been recently observed. The exchange rate either drops to 0.7842 AZN or rises up to 0.7845 AZN.
The rate was set at 0.7845 AZN to the US dollar on December 4-17, thereby returning to the indices at the beginning of this year. The dollar rate was at around 0.7844 AZN per US dollar in the following days of December until the end of the month.
The absolute minimum was established on January 30, 2014 at the level of 0.7842 AZN to $1 and since then it remained at this level several times.
As of 2013, the official exchange rate was 0.7845 AZN compared to 0.7850 AZN as of 2012 and 0.7865 AZN per $1 as of 2011. Thus, 2011 began with the official exchange rate of $1 to 0.7979 AZN.
The euro rate decreased by almost 11 percent compared to the AZN in 2014. Thus, the exchange rate dropped from 1.0691 AZN to 0.9522 AZN per euro during the year.
A minimum rate for the reporting period - 0,9522 EUR / AZN was recorded on December 30, a maximum rate - 1,0932 EUR / AZN was reached on March 13. The fluctuations between maximum and minimum values were 1,410 points.
However, it should be stressed that EUR / AZN exchange rate was characterized by strong volatility of dynamics as opposed to the dollar.
Foreign exchange market
According to the Baku Interbank Currency Exchange (BBVB), five participating banks held 15 transactions at 42 trading sessions in Bourse E-System of Trades (BEST) in December 2014. The total trading volume in the USD / AZN (spot) currency section in the reporting month was 29.927 million AZN or $38.149 million.
The trading volume in the currency section decreased by 22 percent or by 8.662 million AZN in December compared to November.
The average daily turnover in e-trading USD / AZN system was approximately $1.425 million in December, while the average amount of each transaction - $1.995 million.
The national currency exchange rate in USD / AZN_TOD in the reporting month remained unchanged - 0.7829 AZN for $1. The average rate of dollar compared to AZN was 0.7845 AZN in December 2014.
The average monthly interest rate calculated on the basis of banks-market makers' bids for BakiBOR loans for up to 90 days, amounted to 10.67 percent per annum in AZN and 10.3 percent per annum in dollars in December 2014. BakiBID rate up to 90 days was 5.48 percent per annum in AZN and 5.07 percent in dollars.
As of 2014, BBVB turnover on dollars hits 376.025 million AZN or $474.522 million (spot). As of 2013, it was 403.644 million AZN or $512.752 million (spot), and taking into account the swap - 414.987 million AZN or $527.752 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 expanded monetary base in Azerbaijan totaled 11.867 billion AZN as of Jan. 1, 2015, according to a report from the Central Bank of Azerbaijan (CBA). In annual terms, the monetary base in Azerbaijan grew by 0.63 percent. For comparison, in late December 2014, this figure was 11.793 billion AZN.
As of Jan. 1, 2015, the monetary base in AZN amounted to 11.542 billion AZN versus 11.642 billion AZN on Jan. 1, 2014, according to the CBA. In the mentioned period, the volume of money in circulation amounted to 10.846 billion AZN, while on Jan. 1, 2014 this figure was 11.033 billion AZN.
The ratio of the mass of cash in circulation to the monetary base was 91.4 percent as of Jan. 1, 2015, reducing by 2.2 percent versus the same indicator on Jan. 1, 2014.
Bank reserves stood at 1.013 billion AZN, or 35.2 percent more than late December 2014 (749.2 million AZN).
Azerbaijan's loan market
Azerbaijani banks increased lending to the economy by 20.2 percent in 2014, compared to the same period of 2013, the report says.
The banks issued loans totaling around 18.543 billion AZN, including around 13.506 billion AZN (72.8 percent) in national currency and 50.37 million AZN (27.2 percent) in freely convertible currency as of January 1, 2015, according to the CBA report.
By comparison, the figure neared 15.423 billion AZN (around 11.077 billion AZN in national currency and over 4.346 billion AZN in freely convertible currency) as of 2013.
Of the total portfolio, borrowings and loans worth 976.3 million AZN (5.3 percent) were overdue compared to 792.8 million AZN (5.14 percent) as of 2013.
The statistics of overdue loans does not include similar loans of Aqrarkredit non-banking credit institution. The share of overdue loans has increased by 23.14 percent in a year.
The volume of short-term loans exceeded 3.931 billion AZN (including overdue loans worth 391.6 million AZN) as of 2014, compared to around 3.336 billion AZN (including overdue loans worth 362.1 million AZN) as of 2013. The volume of short-term loans has in the economy increased by 17.9 percent in a year.
The volume of long term loans exceeded 14.611 billion AZN (including 584.6 million AZN worth overdue loans) as of 2014, compared to about 12.088 billion AZN (including 430.6 million AZN worth overdue loans) as of 2013. The volume of long term loans has increased by 20.9 percent in a year.
The credit portfolio of the only state bank in the country, the International Bank of Azerbaijan, neared 6.144 billion AZN with the specific weight of 33.1 percent, while private banks issued loans worth around 11.874 billion AZN with a specific weight of 64 percent.
The remaining 2.8 percent fell to the share of non-bank credit organizations which issued 525.2 million AZN, according to the CBA.
Azerbaijani banks increased the consumer lending volume by 24.4 percent in 2014 compared to the same period of 2013, the report said.
The share of consumer loans in a total volume of the banks' loan investments amounted to 44 percent, or 7.732 billion AZN. For comparison: their share accounted for 40.3 percent, and the amount of issued loans - 6.215 billion AZN in 2013.
The trade and services (14.5 percent or 2.681 billion AZN) ranked second on the share in the total loan portfolio of banks. The construction and real estate sector (13.8 percent or 2.555 billion AZN) ranked third.
Around 10.9 percent of the total volume of lending to the real sector of Azerbaijan was directed to the industry and production. In nominal terms it amounts to 2.028 billion AZN.
The banks also increased lending to this sector in connection with the announcement of 2014 as the Year of Industry. For comparison: in 2013 the share of lending to the industrial sector accounted for 9.8 percent of a total volume of funds transferred by the banks into the country's economy.
The share of transport and communication hit 4 percent (736 million AZN), agriculture and processing reached 4.6 percent (847.3 million AZN), energy, chemistry, and natural resources - 1.1 percent (195.8 million AZN).
The loans issued to the population in Azerbaijan's districts exceeded 3.146 billon AZN in 2014, or 17 percent of the total volume of the banks' credit portfolio, which is 49.8 percent more than in 2013, the report says.
This figure surpassed 15.396 billion AZN in Baku where the loans in national currency neared 11.008 billion AZN. The average interest rate on loans stood at 13.7 percent in the country in 2014 and 12.3 percent in Baku.
The volume of lending in Absheron economic region stood at 608.99 million AZN with the average rate of 18.3 percent, Aran - around 1.106 billion AZN at a rate of 21.3 percent, Mountainous Shirvan - 129.7 million AZN - 23.2 percent, Ganja-Gazakh - 427.3 million AZN - 21.7 percent, Guba-Khachmaz - 142.89 million AZN - 20.1 percent, Lankaran - 327.79 million AZN - 22.9 percent, Sheki-Zagatala - 172.16 million AZN - 21.1 percent, the Upper Karabakh - 84.14 million AZN - 20 8 percent, Kalbajar-Lachin - 32.87 million AZN - 25.6 percent, Nakhchivan - 114.74 million AZN - 13.8 percent.
Azerbaijani banks decreased interest rates on loans in local and foreign currency.
The average rate on bank lending to the economy of Azerbaijan in national currency amounted to 13.81 percent compared to 14.13 percent as of late 2013.
The average rate on bank lending in freely convertible currency made up 14.07 percent compared to 14.39 percent as of late 2013.
The average rate on bank lending to legal entities in national currency amounted to 9.99 percent compared to 11.52 percent on the results of 2013. The average rate on bank lending to corporate clients in freely convertible currency amounted to 9.18 percent compared to 10.76 percent.
As of January 1, 2015, the average rate on bank lending to physical entities in national currency amounted to 18.53 percent compared to 17.65 percent as of January 1, 2014.
The average rate on bank loans to individual customers in freely convertible currency was 21.52 percent compared to 20.74 percent as of early January 2014.
Mortgage lending
Mortgage plays an important role in improving the living conditions of the population.
The Azerbaijan Mortgage Fund (AMF) under the Azerbaijani Central Bank delivered loans amounting to 97.1 million AZN in 2014 or 14 percent less than in the same period of 2013, the report says.
Mortgage loans worth more than 636 million AZN have been delivered since launching financing through the AMF, including 112.9 million AZN in 2013, 74.77 million AZN - in 2012, 95.64 million AZN - in 2011, 97.08 million AZN - in 2010, 76.9 million AZN - in 2009, 70.2 million AZN - in 2007 and 5.6 million AZN - in 2006.
The total amount of refinancing the loans delivered by the banks earlier, hit 126.4 million AZN in 2014, according to the report.
The average amount issued by AMF authorized banks is 40,206 AZN (this figure amounted to 39.474 AZN in 2013), the average term of loan issue - 279 months (278 months), the average interest rate is 6.79 percent (versus 6.88 percent in 2013), and the average monthly payment is 332.5 AZN (319.9 AZN).
Currently, the maximum amount of a common mortgage loan through the AMF is 50,000 AZN at a rate of 8 percent with a payback period of 25 years. Terms under the social mortgage are 50,000 AZN at an annual rate of 4 percent with a payback period of 30 years. The initial payment under a social mortgage is 15 percent, whilst a conventional loan is 20 percent.
Conditions of mortgage lending are as follows: Loans must be issued in Azerbaijani AZN 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 percent of the market price and the monthly payment must not exceed 70 percent of the debtor's monthly income. It is compulsory to have 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.
At present, the authorized banks of the Mortgage Fund are 28 banks [some 44 banks operate in the country].
Some 21 insurance companies [their total number is 27] and 14 appraisal organizations are the participants of the mortgage market.
Only five Azerbaijani banks have issued at least 1,000 mortgage loans via the public system, implemented through the Azerbaijan Mortgage Fund.
AG Bank, Xalq Bank, Bank Standard, Demirbank and Zamin Bank are among these banks.
Around 1,270 mortgage loans accounted for AG Bank, 1,222 mortgage loans - Xalq Bank, 1,181 mortgage loans - Bank Standard. Demirbank's share hits 1,048 loans, while Zamin Bank - 1,000 loans.
Around 32.8 percent of the total amount of loans issued through the Azerbaijan Mortgage Fund (AMF) accounted for the citizens engaged in the public sector in 2014, the AMF statistics report as of 2014 says.
The employees of private enterprises and firms (29.6 percent) rank second.
The employees of the financial sector received less mortgage loans (23.8 percent of the total volume).
Around 13.8 percent of the mortgaged housing accounted for the citizens employed in the oil sector of the economy.
The loans amounting to 134.45 million AZN were issued through the AMF in 2014. This increased the total volume of housing financing to 633.28 million AZN. The total number of borrowers who received mortgage loans reached 15,842 people.
The total amount of refinancing the loans issued by the banks earlier was 557.37 million AZN as of early 2015.
Around 216 million AZN were allocated from the state budget to finance social mortgage. As of January 1, 2015, around 3,520 loans worth 130.2 million AZN were issued on preferential terms.
As of January 1, 2015, the loans amounting to 435.2 million AZN were issued through the AMF as part of conventional mortgage. The conventional mortgage is delivered from the funds raised from the placement of mortgage bonds.
Azerbaijan's banking sector
The economic cycles, seasonal factors and the attitude of investors, dictated by a variety of causes impact on the dynamics of deposits.
In 2014, the depositary base of Azerbaijani banks increased by 23.9 percent, the report says.
As of January 1, 2015, the total amount of bank deposits and deposits of physical and legal entities totaled 15.453 billion AZN compared to 12.476 billion AZN as of early January 2014, according to the CBA.
Around 7.743 billion AZN fell to cash, 2.734 billion AZN were demand deposits, and 5.009 billion AZN term deposits. The funds in foreign currency amounted to 7.710 billion AZN (1.799 billion AZN and 5.911 billion AZN, respectively).
The deposits of physical entities increased by 12.4 percent, while the volume of legal entities' deposits by 46.3 percent compared to 2013.
On the results of 2014, the volume of physical entities' deposits in the banks amounted 7.188 billion AZN compared to 6.395 billion AZN in 2013.
Around 4.422 billion AZN (61.5 percent) of the population's funds were placed in the national currency, while 2.766 billion AZN in freely convertible currency, according to the Central Bank.
The Azerbaijani population's deposits in the national currency in the banks have prevailed over those in foreign currency since 2012.
The deposits of the population, being one of the most important indices of confidence in the banking system, also play a significant role as a resource for the banks to normally work.
The population's deposits, attracted to Azerbaijan's banking system from the country's districts (except for Baku), totaled 540.6 million AZN in 2014, or 7.52 percent of the total bank deposits.
The figure increased by 13.5 percent compared to 2013.
The volume of deposits in Baku was 6.648 billion AZN, while some 4.015 billion AZN accounted for the deposits in the national currency.
In this period, the average interest rate throughout the country hit 8 percent and in Baku - 8 percent.
Thus, Baku is still the leader on such indices as attracting the population's deposits by the banks.
The Absheron economic region (173.1 million AZN at an average rate of 8.5 percent) left behind the Aran economic region (164.16 million AZN, the average rate - 7.6 percent per annum) in terms of drawing the deposits of the population in the districts by the end of 2014.
The Aran economic region was in the lead on this index for almost a year.
In 2014 the volume of deposits in the Mountainous Shirvan - 15.5 million AZN at a rate of 6.3 percent, Ganja-Gazakh - 64.2 million AZN at a rate 6.1 percent, Guba-Khachmaz - 20.3 million AZN at a rate of 6.6 percent, Lankaran - 43.6 million AZN - the rate of 7.2 percent, Sheki-Zagatala - 22.8 million AZN - the rate of 5.7 percent, Upper Karabakh - 10.85 million AZN - 4.6 percent, Kalbajar-Lachin - 6.8 million AZN - 5.4 percent, Nakhchivan - 19.3 million AZN - the average rate of 4.4 percent.
On the results of 2014, the volume of deposits of financial organizations amounted to 4.298 billion AZN compared to 3.261 billion AZN on the results of 2013. The volume of deposits of non-financial organizations totaled 3.967 billion AZN compared to 2.818 billion AZN on the results of 2013.
The total volume of deposits of legal entities totaled 7.265 billion AZN compared to 6.080 billion AZN as of January 1, 2014.
The Azerbaijani banks reduced interest rates on deposits both in national and in freely convertible currency.
The average rate on deposits in AZN for January 1, 2015 made up 8.86 percent compared to 9.42 percent in January 1, 2014, the statistical report of the CBA said. The average rate on deposits in foreign currency amounted to 9.24 percent versus 9.66 percent in early January 2014.
As of January 1, 2015, the average interest rate on deposits of individuals in AZN made up 9.45 percent, while on January 1, 2014, it was 9.81 percent. The average rate on deposits from individual customers in foreign currencies amounted to 9.78 percent versus 10.23 percent in early January 2014.
The average rate on deposits of legal entities in AZN made up 5.51 percent at the beginning of January 2015 versus 5.74 percent for January 1, 2014, the report said. The average rate on deposits from corporate clients in foreign currency amounted to 6 percent versus 2.98 percent in early January 2014.
In 2015, interest rates on loans will be reduced in Azerbaijan.
Azerbaijani President Ilham Aliyev gave the relevant instruction in the decree on the application of the law "On State Budget of Azerbaijan for 2015".
The Central Bank of Azerbaijan (CBA) has been instructed to take measures to reduce interest rates on loans of commercial banks, to reduce the difference between the lending and discount rate of the regulator, according to the decree.
At present, the average interest rate on loans in Azerbaijan is 14.3 percent. About three-quarters of the loan portfolio of banks accounts for business loans, rates on which in average amount to 10.8 percent. Interest rates on consumer loans (a quarter of the portfolio) account for 18 percent.
The discount rate of the Central Bank of Azerbaijan is currently equal to 3.5 percent.
In addition, in accordance with the decree, the CBA will have to report on the implemented work to the president of Azerbaijan twice in a year.
The chairman of the Central Bank of Azerbaijan Elman Rustamov previously said that the interest rates are one of the central issues of macroeconomics worldwide.
"In general, this issue is closely connected with the problems of economic activity, economic growth, employment, inflation," he said.
He went on to add that CBA consistently works to reduce interest rates in the country.
Interest rate on secured consumer loans for car purchase accounts for 14-18 percent, on mortgage loans allocated by the state line - 4.8 percent, on mortgage loans granted at the expense of own funds of banks - 9-10 percent.
Interest rates on consumer loans amount to 35 percent, however, they are completely unsecured loans.
Banks' financial activity
As of 2014, there were 45 banks in Azerbaijan: 43 commercial and two state banks. There are 23 banks with foreign capital. The share of foreign capital hits from 50 to 100 percent in eight banks, while up to 50 percent in 13 banks. There are two local branches of foreign banks.
In late 2014, the Central Bank of Azerbaijan granted a license to Turkish TC Ziraat Bankası's subsidiary to conduct the banking activity in the country. The Turkish bank's subsidiary in Azerbaijan will operate under the name of "Ziraat Bank Azerbaycan".
"Ziraat Bankası" is one of the shareholders of "Azer-Turk Bank" JSC. Currently, it owns 14 percent stake in the bank. "Ziraat Bank Intenational AG" owns one percent. The State Committee for Property Affairs of Azerbaijan owns 85 percent.
Previously, Ziraat Bankası's share in "Azer-Turk Bank" was 46 percent, "Ziraat Bank Intenational AG" - four percent. "Ziraat Bankası" decided to sell its stake in "Azer-Turk Bank" OJSC, director general of the bank Huseyin Aydin said earlier.
The total profit of Azerbaijan's banks exceeds the total loss by 78.4 times as of 2014, the report said.
The profit of 37 banks was 375.33 million AZN, while the loss of eight banks stood at 4.79 million AZN, according to the report. This allowed the banking system to get net profit of 370.54 million AZN.
The number of profitable banks increased by 2 compared to November 2014, and their total profit decreased by 14.59 percent. The number of unprofitable banks increased by 3 but their total loss decreased by 83.2 percent.
The number of profitable banks decreased by 2 in December 2014 compared to the same month of 2013, while the total profit of this sector increased by 37.8 percent. The number of unprofitable banks increased by 4, while their total loss increased by 0.84 percent.
|
Periods |
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 |
|
01.01.2014 |
39 |
272,32 |
4 |
-4,75 |
267,57 |
|
01.01.2015 |
37 |
375,33 |
8 |
-4,79 |
370,54 |
The Azerbaijani banking sector's capitalization rose by 22.8 percent in 2014, standing at 4.160 billion AZN as compared to the same period of 2013, according to a report.
The report said there were 43 banks with a capital exceeding ten million AZN in the reporting period, one bank more as compared to 2013. The specific weight of this category of banks in the total capital of all banks in Azerbaijan stood at 99.8 percent in the reporting period.One bank's capital was formed within a range from five million AZN to ten million AZN, and another one's capital - in a range from 3.5 million AZN to five million AZN.
The specific weight of these categories of banks in the aggregate capital of all the banks in Azerbaijan was 0.1 percent in the reporting period.The CBA's requirement for the banks' minimum total capital was set at 50 million AZN by late 2014.As of January 1, 2015, the assets of the Azerbaijani banking sector amounted to 25.18 billion AZN compared to 20.39 billion AZN on the results of 2013.
The bank assets increased by 23.49 percent during a year, according to the Central Bank of Azerbaijan.
The basis of the assets of the banking sector (68.2 percent) accounted for loans delivered to the clients in the amount of 17.17 billion AZN (21.17 percent growth during a year), investments (2.19 billion AZN with 8.68 percent weight and 33.5 percent growth during a year) and funds on correspondent accounts (1.83 billion AZN with 7.3 percent weight and 55.1 percent growth during a year).
Loans and deposits delivered by the banks to the financial sector amounted to 1.018 billion AZN on the results of 2014 (4 percent).
The lion share in the structure of liabilities accounts for deposits standing at 11.09 billion AZN (44.03 percent) as of January 1, 2015, showing an increase of 24.89 percent compared to the same period of 2013. Loans and deposits from the financial sector amounted to 8.45 billion AZN (33.54 percent), increasing by 24.3 percent during a year.
Payment card market
The number of payment cards in Azerbaijan increased by 5.1 percent during the year and hit 5.966 million units as of December 2014, according to the report.
Some 4.664 million units of the total number of cards were debit cards, in particular, 2.426 million - social cards, 1.444 million - salary cards, 794,000 - other cards. The number of credit cards was 1.302 million units.
The total turnover on payment cards via ATMs and POS-terminals amounted to 11.869 billion AZN and the total number of transactions to 79.229 million units in 2014, according to the report. The number of transactions on debit cards equaled 62.014 million units totaling 9.523 billion AZN in 2014.
Of the total number of transactions, around 49.537 million transactions amounting to 8.561 billion AZN were implemented on debit cards via ATMs within the country, and around 3.5 million transactions amounting to 611 million AZN via POS-terminals.
Some 17.217 million transactions worth of 2.347 billion AZN were made on credit cards in 2014.
As many as 5.506 million transactions worth 1.253 billion AZN, of the total number of transactions on credit cards, were implemented via ATMs and there were 7.201 million transactions worth of 511 million AZN via POS-terminals.
As of January 1, 2015, around 2,608 ATMs operated in the country of which 1,471 are located in Baku and 1,137 in other cities and regions of the country. Their total number increased by 186 units or 7.7 percent during a year.
The number of POS-terminals amounted to 73,013 units of which 50,050 are installed in Baku and 22,963 units in other cities and regions as of January 1, 2015. The number of POS-terminals increased by 39,728 units or 2.19 times in 2014 compared to 2013.
Stock market
The total turnover of transactions on all instruments on the Baku Stock Exchange (BSE) in January-December 2014 stood at 8.158 billion AZN, or by 3.74 percent less compared to the same period of 2013, BSE said.
The volume of the state securities market hit 4.156 billion AZN (a decrease by 41.35 percent) during the reporting period and the turnover of corporate securities market totaled 4.001 billion AZN (a 2.9 times growth).
Comparative table on the results of trades on the state and corporate sectors at BSE (Jan.-Dec. 2014):
|
Market segments |
As of Dec. 30, 2014 |
As of Dec. 30, 2013 |
Percentage ratio |
||
|
Volume of transactions, AZN |
Number of deals |
Volume of transactions, AZN |
Number of deals |
||
|
SB (Finance Ministry) - (placement) |
80 311 321,02 |
31 |
98 048 951,72 |
51 |
81,91% |
|
SB (Finance Ministry) -(secondary market) |
27 597 328,09 |
17 |
36 556 828,09 |
14 |
75,49% |
|
Notes (Central Bank) - (placement) |
158 054 771,87 |
47 |
299 828 637,61 |
105 |
52,72% |
|
Notes (Central Bank) -(secondary market) |
349 810 288,32 |
29 |
43 955 612,02 |
4 |
795,83% |
|
Repo transactions |
3 540 809 139,72 |
297 |
6 609 110 630,25 |
583 |
53,57% |
|
SS market, total |
4 156 582 849,02 |
421 |
7 087 500 660 |
757 |
58,65% |
|
CB (placement) |
2 165 184 851,94 |
100 |
152 791 623,42 |
96 |
1417,08% |
|
CB (secondary market) |
807 627 156,32 |
299 |
790 966 126,89 |
229 |
102,11% |
|
Stocks (placement) |
1 009 478 762,63 |
655 |
423 163 180,89 |
349 |
238,56% |
|
Stocks (secondary market) |
19 607 054,01 |
4 802 |
21 440 318,04 |
3 505 |
91,45% |
|
CS Market Total |
4 001 897 824,90 |
5 856 |
1 388 361 249,24 |
4 179 |
288,25% |
|
Total: |
8 158 480 673,92 |
6 277 |
8 475 861 908,93 |
4 936 |
96,26% |