IBA Leads in Foreign Currency Exchange Market
OREANDA-NEWS. December 24, 2008. The International Bank of Azerbaijan (IBA) by the results of November has regained its leadership among top five currency dealers at the Baku Interbank Currency Exchange (BICE), reported the press-centre of IBA.
According to information from BICE, the largest bank in the country during the subject period has performed 52.91% of all operations of the currency exchange. IBA has held the first position among five top currency dealers in September, when it share has been assessed at 22.03% of the total volume of deals.
In October the IBA share was at level of 14.16%. The second position in top five belongs to Unibank OJSC with its share of 13%, although its previous share was 18%. Among leader banks are the Bank Respublika, Azerbaijan Sanaye Bank and Tapi Kredi Bank Azerbaijan. Their cumulative share on the market is 30%. We shall note that in total the currency section of BICE had 14 participating banks during the last month, and the total number of deals registered by the electronic system is 48.
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