“AzFinance” Investment Company’s exchange turnover in 2019 amounted to 4 billion 444 million manat.
Fins.az reports that this was published by the Baku Stock Exchange.
According to the information, “AzFinance” Investment Company has increased the volume of operations of its customers creating conditions for competitive income from short-term funds. So, the company has managed to bring income from unused funds of its customers carrying out 7-14-day repo transactions, which provide a return of 3.5-4% in the capital market actively. The volume of repo operations of the investment company amounted to 612 million manat.
It is also noted that another reason for the increase in turnover is the direct management of more than 120 million AZN by “AzFinance” Investment Company’s clients. In this way, “AzFinance” provided its customers to get 10-15% annual income. As a result of these services, customers can increase their income taking advantage of capital market opportunities. As a result of these operations, the volume of transactions with government bonds amounted to 849 million manat.
It is stated in the information that one of the main services provided by “AzFinance” Investment Company is the ability to attract low-interest funds to customers without collateral. Thus, “AzFinance” Investment Company undertakes to attract funds to its customers through the underwriting service. It has successfully fulfilled this obligation. AzFinance’s customers attracted funds which are both unsecured and below bank interest rates issuing bonds. At the same time, terms on the repayment of the principal amount at the end of the term paying interest on a quarterly basis makes the issue of contingent bonds competitive. The volume of operations of AzFinance with corporate bonds in 2019 was 580 billion manats.
It should be noted that 2.4 billion manat of the turnover was comprised by the “operations conducted with short-term notes of the Central Bank.
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