TODAY.AZ / Business

BSE: "The rate of corporate sector in Azeri stock market will come to 15% by this year"

15 June 2006 [01:12] - TODAY.AZ
The volume of transactions in stock market of Azerbaijan reached AZN517,5 million last year increasing more than 5 times.

A double increase is expected this year. Baku Stock Exchange (BSE) Board Chairman Anar Akhundov has spoken about on Caucasus Banking & Finance Conference in Baku, APA informs.

Saying that the capacity of securities market will grow this year, Mr. Akhundov has stated that annual average income rate on all issues was 5-7% in 2005 and 12% in past 5 months.

"Azerbaijan National bank (ANB) notes are one of the mostly used tools in market, which liquidity is maintained by ANB."

As to repo transactions in notes, interest rate made annual 7-8% this month.
"We hope repo transactions will make capital market enlarge. On the other hand, repo transactions are made not only by ANB, but among banks."

Mr. Akhundov has told that more than AZN3 million bonds were issued in the first quarter of 2006 and more than AZN6 million bonds were in the second quarter of this year. On his words, that market has the capacity of more than AZN10 million.

Touching the content of investors, Mr. Akhundov told that banking credit organizations composed 73% of investors, insurance companies did 12%, aliens were by 8% while non-credit organizations composed 5% and 2% of investors were from other sectors in 2005.
He has also stated that public sector has 91% in securities market and the corporate sector has 9% now. The rate of corporate sector will come to 15% by this year.

URL: http://www.today.az/news/business/27289.html

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