PASHA Bank launches market-maker services on mortgage bonds
Baku, Fineko/abc.az. One of the countrys important banks - PASHA Bank - continues active participation in the securities market.
The Bank informs that PASHA Bank starts providing market-maker services on mortgage bonds of the Azerbaijan Mortgage Fund under the Central Bank.
Pasha Banks board member and chief investment officer Taleh Kazimov says that given the high liquidity of the market, the yield of 7-year mortgage-backed securities (AZ200100868) on the secondary market fell below 3%, and is currently traded in the range of yield of 2.97% - 2.99%.
Today transactions for AZN 3.5 million were conducted in this yield range on this paper. It remained less than 4 years before the maturity of this paper, which is secured by mortgage bonds.
PASHA Bank became the first one providing market-maker services on corporate securities. Last year it issued corporate bonds of four issuers (representatives of various industries, including banking and telecommunications sectors) for AZN 70.4 million.
The results of PASHA Bank’s work in the investment area were highly appreciated by the professional community, and the Bank was awarded the prize of prestigious international financial journal EMEA Finance in nomination "The Best Investment Bank of Azerbaijan"
PASHA Bank plans to continue strengthening its position as a market professional by organizing issues of new bond issuers, and to develop a secondary market of securities.
Tags: PASHA Bank
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