Photo: Trend News Agency

BAKU, Azerbaijan, October 15. SOCAR bonds make up about 25% of the total volume of corporate bond issues in Azerbaijan, Executive Director of the Central Bank of Azerbaijan (CBA), Tarlan Rasulov, said at a press conference dedicated to the presentation of the Financial Stability Report in Baku on Thursday, Trend's correspondent reports from the event.

He noted that the total volume of corporate bond issues in Azerbaijan amounted to around 2 billion manat ($1.17 billion). Of this, 400 million manat ($235.3 million) accounted for SOCAR bonds.

"Overall, the corporate bond market is worth around 2 billion manat ($1.17 billion). Roughly 400 million manat ($235.3 million) of this consists of SOCAR bonds. In other words, this accounts for nearly 25% of the total," Rasulov explained.

According to exective director, the expiration of SOCAR bonds could lead to a decrease in their volume on the market.

He emphasized that changes in the corporate bond market are also influenced by the volume of government securities and the maturity of individual bond issues.

Speaking about the decline in banks' borrowing volumes, Rasulov pointed out that this process was related to current market conditions and banks' borrowing strategies.

"There is nothing unusual about this. A decline in banks' borrowing volumes is a natural development in terms of their overall strategies and changes in the market," he added.