The Central Bank of Azerbaijan (CBA) has solved the problem with the lack of equity.
The loss, which arose by the end of the year, resulting from the revaluation of assets and liabilities in foreign currency and gold on the balance of the Central Bank, will be covered by our own capital reserves, according to amendments to the law "On the Central Bank of Azerbaijan" adopted at a plenary session of the Milli Majlis in May.
In case of reducing assets below the amount of its liabilities, the resulting lack of capital will be repaid in one fiscal year with the securities issued by the state, according to the amendments.
After the formation of reserve capital and confirmation of the annual financial report by an audit resolution, the available remainder of realized profit of the Central Bank is transferred to the state budget.
The Central Bank capital consists of its share capital and capital reserves, according to the law. The authorized capital of the Central Bank was set at 50 billion Azerbaijani manats. Capital reserves should not be less than the authorized capital of the CBA in accordance with changes to the law, and are formed by contributions from the profits on the results of the fiscal year.
Until now, the minimum level of capital reserves was set at 15 percent of the national currency cash released into circulation.
Central Bank of Azerbaijan said that the devaluation of the national currency stopped the decline of its currency reserve: increase was observed in their volume in May for the first time since Aug.1, 2014.
CBA said that the bank's currency reserve neared $8.431 billion as of June 1, compared to about $8.398 billion as of May 1, about $12.681 billion as of Feb.1 and around $13.758 billion as of Jan.1, 2015. By comparison, CBA's currency reserve reached $15.193 billion (absolute record) as of Aug.1, 2014.
The growth of CBA's currency reserve in May 2015 stood at $32.9 million (+0.39 percent). Meanwhile, for the present the decrease is nearly $5.328 billion (-38.7 percent) as of 2015. CBA's reserve has dropped by around $6.763 billion (-44.5 percent) since Aug.1, 2014.
Currency market and manat rate
Fluctuations of the rate of manat in Azerbaijan are common to the regime of managed floating exchange rate.
"The rate of manat is formed on the basis of a basket that includes the euro and the US dollar," said the message from CBA. "This means that the daily changes in the ratio of rate of the euro and the dollar partially affect the rate of the manat against the US dollar."
"In other words, in certain days manat can rise, and in others - become cheaper, in relation to the dollar. In general, these changes are common to the managed floating exchange rate," said the message.
At present, the subjects of the currency market gradually adapt to exchange rate regime.
In addition, the Central Bank said that due to the fact that the euro rate against the US dollar in the long term is associated with the oil prices, the exchange rate regime of the CBA also takes into account long-term trends in oil prices.
Azerbaijani monetary market
CBA'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.
A decrease in the foreign exchange reserves of the country, as well as the CBA decision as of February 16 about holding the exchange rate policy on the basis of the mechanism of the dual currency basket that includes the dollar and the euro, significantly affect the amount of the monetary aggregates in subsequent months.
The money supply rate (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 0.43 percent in May 2015 compared to the last month and dropped by 33.8 percent compared to the same period of 2014.
The money supply rate (M2) exceeded 11.051 billion manats as of May 2015, compared to 11.004 billion manats as of April, over 12.493 billion manats in March, 13.607 billion manats in February, around 16.237 billion manats in January and 16.696 billion manats as of June 1, 2014, according to the CBA report.
The amount of cash money supply (M0) dropped by 36.4 percent during a year and neared 6.493 billion manats compared to 10.207 billion manats as of early June 2014. M0 increased by 1.12 percent in May compared to April.
As of May 2015, Broad Money Supply (M3) neared 18.967 billion manats or 5 percent less compared to the same period of 2014 (around 19.969 billion manats), but it is 0.8 percent less compared to late April 2015 (around 18.983 billion manats).
The transaction money (M1) decreased by 33.3 percent during a year and exceeded 8.363 billion manats compared to around 12.546 billion manats as of May 2014. M1 increased by 1.16 percent compared to the previous month. (about 8.268 billion manats).
Parameters of monetary market, in billion manats:
|
Volume as of Jan.-May |
|
|
Money mass in extensive understating (М3) |
18.967 |
|
Money mass on manat (М2) |
11.051 |
|
Cash in manat (М0) |
6.493 |
|
Non-cash in manat |
4.559 |
The expanded monetary base in Azerbaijan neared 7.984 billion manats as of June 1, 2015.
In annual terms, the monetary base in Azerbaijan decreased by 29.76 percent. For comparison, as of June 2014, this figure was 11.366 billion manats.
The monetary base in Azerbaijan amounted to 113.5 million manats compared to April, or by 1.44 percent.
As of June 1, 2015, the monetary base in manats amounted to 7.597 billion manats compared to 11.272 billion manats as of June 1, 2014, according to CBA.
In the mentioned period, the volume of money in circulation amounted to 7.129 billion manats, while this figure was 10.751 billion manats as of June 1, 2014.
The ratio of the mass of cash in circulation to the monetary base was 89.3 percent as of Jan.1, 2015, dropping by 5.3 percent compared to June 1, 2014.
During the reporting period, bank reserves stood at 849.2 million manats, or 41.56 percent more than in the same period of 2014 (599.9 million manats).
Azerbaijan's loan market
Azerbaijani banks increased lending to the economy by 23.3 percent in January-May 2015 compared to the same period of 2014.
The bank lending volume decreased by 0.6 percent in May 2015 compared to the previous month, while by 1.1 percent compared to February 2015.
The banks issued loans totaling around 20.468 billion manats, including around 11.729 billion manats (57.3 percent) in national currency and 8.739 billion manats (42.7 percent) in freely convertible currency, the CBA report said.
This ratio hit 73 and 27 percent in January 2015, respectively, 60 and 40 percent in Jan.-Feb., while 59.17 percent and 40.83 percent in Q1, respectively.
By comparison, the figure hit 16.595 billion manats (around 12.090 billion manats in national currency and 4.505 billion manats in freely convertible currency) as of May 2014.
Of the total portfolio, borrowings and loans worth 1.313 billion manats (6.4 percent) were overdue as of Jan.-May 2015.
The volume of overdue loans increased by 45.1 percent compared to the same period of 2014 and 34.5 percent compared to early 2015.
By comparison, this figure stood at 905 million manats (5.45 percent) in Jan.-May 2014.
The statistics of overdue loans does not include similar loans of Aqrarkredit non-banking credit institution.
The volume of short-term loans amounted to 4.523 billion manats (including overdue loans worth 518.3 million manats) as of May 2015 compared to 3.561 billion manats (including overdue loans worth 418 million manats) a year earlier. The volume of short-term loans in the economy has increased by 27 percent in a year.
The volume of long-term loans amounted to 15.946 billion manats (including 794.8 million manats worth overdue loans) as of January-May 2015, compared to 13.034 billion manats (including 486.9 million manats worth overdue loans) as of May 2014. The volume of long term loans has increased by 22.3 percent in a year.
The credit portfolio of the state banks in the country hit 7.336 billion manats with the specific weight of 35.8 percent, while private banks issued loans worth 12.542 billion manats with a specific weight of 61.3 percent.
The remaining 2.9 percent fell to the share of non-bank credit organizations which issued 590.6 million manats, according to the CBA.
Azerbaijani banks increased the consumer lending volume by 20 percent in January-May 2015 compared to the same period of 2014.
The share of consumer loans in a total volume of the banks' loan investments amounted to 39.3 percent, or 8.04 billion manats, according to CBA.
By comparison, their share accounted for 40.6 percent, and the amount of issued loans - 6.7 billion manats in January-May 2014.
The trade and services (14.2 percent or 2.9 billion manats) ranked second for the share in the total loan portfolio of banks. The construction and real estate sector (13.8 percent or 2.8 billion manats) ranked third.
As much as 10.7 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 2.18 billion manats.
The share of transport and communication hit 4.4 percent (890.9 million manats), agriculture and processing reached 4.6 percent (935.1 million manats), energy, chemistry, and natural resources - 1.3 percent (276.2 million manats).
The loans issued to the population in Azerbaijan's districts totaled 3.378 billion manats as of January-May 2015, or 16.5 percent of the banks' total loan portfolio.
Almost a third (27.4 percent) of loans, or 925.8 million manats issued to the population in the country's regions, accounted for the foreign currency. The share of loans in foreign currency in Azerbaijan's regions has slightly increased compared to Jan.-May 2014. Their share stood at 22 percent or 568.38 million manats during the same period of 2014.
The figure hit 17.090 billion manats in Baku. Here the loans in national currency (manat) amounted to 9.277 billion manats (54.3 percent), according to CBA.
Around 14.016 billion manats worth loans were issued in Baku during the same period of 2014, of which 10.079 billion manats (71.9 percent) accounted for loans in national currency.
The average interest rate on loans throughout the country was 13.1 percent in Jan.-May 2015, while in Baku this figure stood at 11.9 percent.
The lending volume in the Absheron Economic district totaled 650.19 million manats at an average rate of 19.5 percent.
In other economic districts the lending index was as follows: Aran - 845.67 million manats at a rate of 23.4 percent, Mountainous Shirvan - 115.6 million manats (23.5 percent), Ganja-Gazakh - 742.5 million manats (9.5 percent), Guba-Khachmaz - 276.3 million manats (20.5 percent), Lankaran - 300.96 million manats (24.2 percent), Shaki-Zagatala - 227.5 million manats (22 percent), the Upper Karabakh - 68.5 million manats (20.3 percent), Kalbajar-Lachin - 9.5 million manats (19.9 percent), Nakhchivan - 141.3 million manats (14.4 percent).
The interest rates on loans issued by Azerbaijani banks throughout the year both in the local and foreign currency have changed differently.
The average rate on bank lending to the economy of Azerbaijan in national currency amounted to 14.05 percent as of Jan.-May 2015, compared to 14.14 percent in the previous month, said the report from CBA.
The average interest rate on loans was 14.05 percent in the same period of 2014 and 13.81 percent in early 2015.
The average rate on bank lending in freely convertible currency made up 12.64 percent compared to 13 percent in the previous month. The average rate stood at 14.39 percent in May 2014 and 14.07 percent as of early 2015.
The average rate on bank lending to legal entities in national currency amounted to 9.76 percent compared to 9.72 percent in April 2015, 10.71 percent in May 2014 and 9.99 percent as of early 2015.
The average rate on bank lending to corporate clients in freely convertible currency amounted to 8.8 percent compared to 9.28 percent, 9.93 percent and 9.18 percent, respectively.
As of May, the average rate on bank lending to individuals in national currency amounted to 18.46 percent compared to 18.63 percent in April 2014, 18.08 percent in the same period of 2014 and 18.53 percent in early 2015.
The average rate on bank loans to individual customers in freely convertible currency was 20.96 percent compared to 21.06 percent, 21.37 percent and 21.52 percent, respectively.
Mortgage lending
Azerbaijan Mortgage Fund (AMF) under the Azerbaijani Central Bank delivered loans amounting to 12.1 million manats in May 2015 or 13 percent more than in the same period of 2014 (10.7 million manats).
The loans amounting to 47 million manats were delivered through AMF in five months or by 10.8 percent less than in the same period of 2014, the Central Bank of Azerbaijan said.
The total amount of refinancing the loans delivered by the banks earlier, hit 29.5 million manats in May 2015.
The average amount issued by AMF authorized banks is 40,524 manats (this figure amounted to 39,839 manats in May 2014), the average term of loan issue - 279 months (278 months), the average interest rate is 6.74 percent (compared to 6.83 percent in 2014), and the average monthly payment is 297.3 manats (318.5 manats).
As much as 9 million manats was transferred from the state budget to the AMF in May 2015.
In total, to date, mortgage loans worth more than 690.18 million manats have been delivered through the AMF, including 97.1 million manats in 2014, 112.9 million manats in 2013, 74.77 million manats - in 2012, 95.64 million manats - in 2011, 97.08 million manats - in 2010, 76.9 million manats - in 2009, 70.2 million manats - in 2007 and 5.6 million manats - in 2006.
Currently, the maximum amount of a common mortgage loan through the AMF is 50,000 manats at a rate of 8 percent with a payback period of 25 years. Terms under the social mortgage are 50,000 manat 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 manat 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 30 banks [45 banks operate in the country].
As many as 21 insurance companies [their total number is 27] and 16 appraisal organizations are the participants of the mortgage market.
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.
As of June 1, 2015, the total amount of bank deposits of physical and legal entities attracted by Azerbaijan's credit organizations totaled 18.575 billion manats.
As of May, 2015, the depositary base of Azerbaijani banks dropped by 1.36 percent, CBA said. It increased by 20.2 percent in five months, and by 36.21 percent in a year.
The total volume of deposits in Azerbaijani banks stood at 18.831 billion manats as of May 1, 2015, over 15.453 billion manats as of Jan.1 and 13.637 billion manats as of June 1, 2014.
Deposits in national currency (manat) totaled 4.957 billion manats as of May 2015 and over 1.962 billion manats of this volume accounted for demand deposits and 2.995 billion manats accounted for term deposits.
Deposits in freely convertible currency totaled 13.658 billion manats (3.186 billion manats - demand deposits and 10.432 billion manats - term deposits).
Deposits in manats and foreign currency accounted for 26.69 percent and 73.31 percent of the total volume of banks' deposit base, respectively.
Deposits in manats and in freely convertible currency accounted for 50.1 percent and 49.9 percent of the bank's deposit base, respectively.
The total volume of deposits in manat dropped by one percent in May, while deposits in foreign currency decreased by 1.19 percent. Thus, deposits in manats and freely convertible currency stood at 5.007 billion manats and 13.824 billion manats as of May 1.
Bank deposits in manats dropped by 9.73 percent, while deposits in foreign currency increased by 6.56 percent in April. In other words, the tendency of withdrawing funds from deposit accounts in continued in May and switched to the currency accounts.
Deposits in national currency stood at 7.744 billion manats as of 2014. Over 2.734 billion manats of this volume accounted for demand deposits, while 5.009 billion manats - term deposits. Deposits in freely convertible currency neared 7.710 billion manats of which 1.799 billon manats accounted for demand deposits and 5.911 billion manats - term deposits.
The growth of the population's deposits in foreign currency in Feb.-Apr. was due to the sharp devaluation of the national currency.
In accordance with the decision of the Board of Directors of the Central Bank of Azerbaijan, the official exchange rate of the US dollar was set at 1.05 manats on Feb.21, 2015. The exchange rate of manat to the US dollar was 0.7844 AZN/USD on Feb.15.
Thus, the US dollar rose by 33.86 percent against manat. CBA said that this decision was adopted in order to further stimulate the diversification of national economy, increase its competitiveness and export potential, and to ensure strategic stability of the balance of payments and the country's international solvency.
The population's deposits, attracted to Azerbaijan's banking system from the country's districts (except for Baku), totaled 597.15 million manats in January-May 2015, or 7.9 percent of the total bank deposits.
The volume of deposits in Baku was 7.004 billion manats, while some 1.820 billion manats accounted for the deposits in the national currency.
Downward trend was observed in the volume of deposits in the banking system following the devaluation of manat by almost 34 percent on Feb.21. The bank deposit portfolio of the population living in the country's districts dropped by 0.3 percent in May, while this figure decreased by 1.6 percent in Baku.
Moreover, devaluation led to dollarization of the population's deposits. Of 7.2 billion manats of bank deposits, only 2.766 billion manats (38.4 percent) were deposited in foreign currency in 2014, while the deposits in freely convertible currency stood at 4.945 billion manats (62.6 percent) of the total volume of deposits (7.9 billion manats) by late February.
The savings of Azerbaijan population in foreign currency stood at 5.429 billion manats (71.4 percent of the total volume of deposits) in Jan.-May 2015 and 2.173 billion manats (28.6 percent) in national currency.
Nevertheless, as distinct from Baku, the majority of the population in the country's districts still saves their funds in manats. During the reporting period, the volume of savings of the population of districts in foreign currency stood at 244.3 million manats (40.9 percent of the total volume of deposits in districts).
Meanwhile, gradual increase has been observed in the volume of banks' deposits in freely convertible currency beyond the capital since early 2015. The ratio of deposits in foreign currency and manats in 2014 was as follows: 75.3 percent (407.2 million manats) - in national currency and 24.7 percent (133.4 million manats) - in foreign currency.
The annual average rate throughout the country stood at 8.1 percent in Jan.-May 2015 and 8.2 percent in Baku.
Thus, Baku is still the leader on attracting the population's deposits by the banks.
Absheron economic region (194.5 million manats at an average rate of 8.7 percent) is in the lead in terms of drawing the deposits of the population in the districts.
During this period, the volume of deposits in the Aran economic region totaled 94.1 million manats at an average rate of 5.8 percent, Mountainous Shirvan - 13.2 million manats (7.1 percent), Ganja-Gazakh - 135.5 million manats (7.6 percent), Guba-Khachmaz - 40.66 million manats (6.9 percent), Lankaran - 38.3 million manats (7.4 percent), Sheki-Zagatala - 39.4 million manats (6.4 percent), the Upper Karabakh - 15.5 million manats (4.5 percent), Kalbajar-Lachin - 2.26 million manats (5.7 percent), Nakhchivan - 23.8 million manats (4.5 percent).
Bank rates on deposits in Azerbaijan changed differently in May 2015 compared to April.
The average rate on deposits in manat as of June 1, 2015 made up 8.81 percent compared to 8.82 percent in April, 8.99 percent in March, 8.95 percent in February, 8.82 percent in January and 8.86 percent as of early 2015.
The average rate on deposits in foreign currency amounted to 8.38 percent compared to 8.31 percent in April, 8.75 percent - in March, 8.73 percent - in February, 8.93 percent - in January, 9.24 percent - as of early 2015.
As of June 1, 2015, the average interest rate on deposits of individuals in manats made up 9.66 percent, while it was 9.58 percent in April, 9.71 percent in March, 9.64 percent in February, 9.41 percent in January and 9.45 percent as of early 2015.
The average rate on deposits of individual customers in foreign currency amounted to 9.50 percent compared to 9.51 percent in April, 9.62 percent - in March, 9.57 percent - in February, 10.05 percent - in January, 9.78 percent - as of early 2015.
The average rate on deposits of legal entities in manats made up 5.95 percent in early June 2015 compared to 5.88 percent - in April, 5.85 percent - in March, 5.78 percent - in February, 5.66 percent - in January, 5.51 percent - as of early 2015, said the report from CBA.
The average rate on deposits of corporate clients in foreign currency amounted to 4.03 percent compared to 3.93 percent - in April, 4.31 percent - in March, 4.34 percent - in February, 4.36 percent - in January, six percent - as of early 2015.
Banks' financial activity
At present, there are 45 banks in Azerbaijan: 43 commercial banks and 2 state-owned banks. There are 23 banks with foreign capital. The share of foreign capital ranges from 50 to 100 percent in eight of them, while up to 50 percent in 13 banks. There are also two local branches of foreign banks.
As of May 1, 2015, the assets of the Azerbaijani banking sector amounted to 29.07 billion manats compared to 22.14 billion manats in the same period of 2014.
The bank assets increased by 31.3 percent during a year, and by 15.45 percent since early 2015, according to the Central Bank of Azerbaijan.
The basis of the assets of the banking sector (64.9 percent) accounted for loans delivered to the clients in the amount of 18.87 billion manats (24.1 percent growth during a year), investments (2.7 billion manats with 42.1 percent growth) and funds on correspondent accounts (2.5 billion manats with almost twofold increase).
Other assets hit 2.46 billion manats (a 38.2 percent growth during the year), loans and deposits delivered by the banks to the financial sector hit 1.36 billion manats (32 percent increase) as of the end of the reporting period of 2015.
The lion share in the structure of liabilities accounted for deposits hitting 12.37 billion manats (42.55 percent) as of June 1, 2015, showing an increase of 30.2 percent compared to May 2014. Loans and deposits from the financial sector amounted to 10.5 billion manats (36.27 percent), increasing by 42.5 percent.
Capitalization of the banking sector has increased by 0.47 percent, amounting to 4.3 billion manats in May. In annual terms, the capital of banks increased by 17.17 percent.
Payment card market
The number of payment cards in Azerbaijan increased by 15.89 percent in May 2015 and hit 6.07 million units compared to the same period of 2014.
Of the total number of cards, 4.81 million units were debit cards, in particular, 2.48 million - social cards, 1.45 million - salary cards, 874,000 - other cards. The number of credit cards was 1.27 million.
The total turnover on payment cards via ATMs and POS-terminals in May amounted to 983 million manats (0.5 percent decrease during a year) and the total number of transactions - 7.07 million or by 6.5 percent more than in the same period of 2014, according to the CBA report.
The number of transactions on debit cards equaled 5.56 million units totaling 807 million manats during the reporting period.
Of the total number of transactions, 4.28 million transactions amounting to 726 million manats were implemented on debit cards via ATMs within the country, and around 326,000 transactions amounting to 46 million manats via POS-terminals.
As much as 1.51 million transactions worth 176 million manats were made on credit cards in May 2015.
Of the total number of transactions on credit cards, 442,000 transactions worth 93 million manats were implemented via ATMs and there were 599,000 transactions worth of 39 million manats via POS-terminals.
As of June 1, 2015, as many as 2,670 ATMs operated in the country of which 1,506 are located in Baku and 1,164 in other cities and regions of the country. Their total number increased by 208 units or 8.4 percent during a year compared to May 2014.
The number of POS-terminals amounted to 78,324 units of which 49,815 are installed in Baku and 28,509 units in other cities and regions as of late May, 2015.
The number of POS-terminals has increased by 29,742 units or 61.22 percent during a year.
Stock market
The total turnover of exchange transactions on all instruments on Baku Stock Exchange has increased by 9.5 percent in Jan.-May compared to the same period of 2014 and stood at 6.280 billion manats.
The volume of state securities market totaled 14.9 million manats (decrease by 30 times), while the turnover of corporate securities market equaled 1.186 billion manats (decrease by 4.5 times) during the reporting period.
The volume of derivatives market stood at 5.079 billion manats.
Trade with derivatives accounted for major part (80.87 percent) of the stock market turnover.
The Baku Stock Exchange started to trade derivatives on a commodity basis on July 21, 2014.
The margin trading allows investors to buy and sell securities and financial instruments purchased from a broker under special conditions due to a temporary trading limit.
Comparative table on the results of trades on the state and corporate sectors at BSE:
|
Market segments |
Jan.-May, 2015 |
Jan.-May, 2014 |
||
|
Volume of transactions, AZN |
Number of transactions |
Volume of transactions, AZN |
Number of transactions |
|
|
State securities market |
14 914 881.15 |
5 |
447 562 063.45 |
77 |
|
State bonds of finance ministry |
14 914 881.15 |
5 |
54 822 798.10 |
23 |
|
State bonds of finance ministry (placement) |
0 |
0 |
44 097 097.20 |
15 |
|
State bonds of finance ministry (secondary market) |
14 914 881.15 |
5 |
10 725 700.90 |
8 |
|
Notes (Central Bank) |
0 |
0 |
392 739 265.35 |
54 |
|
Notes (Central Bank) - (placement) |
0 |
0 |
99 923 373.40 |
33 |
|
Notes (Central Bank) -(secondary market) |
0 |
0 |
292 815 891.95 |
21 |
|
Market of shares |
130977 876.20 |
1,787 |
720 950 317.63 |
2,163 |
|
shares (placement) |
128183 981.97 |
67 |
719 201 022.60 |
533 |
|
shares (secondary market) |
2 793 894.23 |
1,720 |
1 749 295.03 |
1,630 |
|
Debt market |
952916 727.73 |
357 |
1116 046 885.45 |
156 |
|
Mortgage bonds (placement) |
11 057 751.00 |
4 |
30 143 330.00 |
17 |
|
Mortgage bonds (secondary market) |
810441 047.44 |
98 |
288 706 662.75 |
52 |
|
Corporate bonds (placement) |
12 787 355.20 |
40 |
755 707 114.14 |
25 |
|
Other corporate bonds (secondary market) |
118630 574.09 |
215 |
41 489 778.56 |
62 |
|
- including market makers |
140228 045.87 |
155 |
57 821 579.45 |
55.00 |
|
Repo transactions |
102415 647.16 |
86 |
3451 200 728.49 |
279 |
|
Repo transactions with the Central Bank |
32 217 600.76 |
30 |
1803 653 833.93 |
137 |
|
Other repo transactions |
70 198 046.40 |
56 |
1647 546 894.56 |
142 |
|
Derivatives market |
5079112288.18 |
30,213 |
0 |
0 |
|
- With currency |
5006052781.26 |
26,859 |
0 |
0 |
|
- With goods |
73 059 506.92 |
3,354 |
0 |
0 |
|
Total |
6280337420.42 |
32,448 |
5735 759 995.02 |
2,675 |
The purchase-sale transactions of shares registered by the National Depository Center under the Azerbaijani State Securities Committee increased by more than 11 times in May 2015 compared to the same period of 2014.
During the reporting period, the Depository Center registered 311 exchange transactions to the amount of 233.04 million manats at a nominal value, while 394 transactions worth 20.4 million manats at a nominal value were registered in May 2014.
The Depository Center registered 43 off-exchange transactions in the amount of 52.88 million manats at face value in May 2015, as well as 54 transactions on the additional issue worth 99.35 million manats (par value).
The volume of off-exchange transactions increased by 10.6 times compared to May 2014. For comparison, the National Depository Center registered 64 deals worth 4.98 million manats in May 2014.
In annual terms, the volume of transactions on the additional issue decreased by 11.17 times (47 deals worth 1.1 billion manats were concluded in May 2014).
The National Depository Center was established on September 18, 1997. The founder and owner of the center's whole package of shares was the Azerbaijani State Property Committee. After the State Securities Committee was established, the center's shares were transferred to it. In this regard, the National Depository Center was re-established by the State Securities Committee on September 8, 1999 and passed the state registration on September 17, 1999.