Azərpoçt” (“Azerpost”) Ltd has placed 192.8 million manats in securities of Azerbaijan, Turkey and Ukraine in 2021. This is reported in the published financial report of the national postal operator.

According to the report, funds have been placed in the government and private securities as follows:

Turkey’s government notes – 119.2 million manats;

Ex-Im Bank of Turkey notes – 28,335 manats;

Ziraat Bank (Turkey) notes – 6,931.200 manats;

Ukrainian government notes – 8,963.400 manats;

Notes of the Ministry of Finance of Azerbaijan – 18,703.000 manats;

Azerbaijani government notes – 7,336.700 manats;

Repo agreement with the Ministry of Finance of Azerbaijan – 5,271.300 manats.

The yield on these investments is estimated at 1.2% to 7% of the nominal value. For 2021, “Azerpost”s income from sales and accrued interest on investments amounted to AZN 1,314,700 and AZN 2,919,500, respectively.

A share of long-term investments is 93.5 million manats and the remaining 99.3 million manats are allocated for short-term period. Owing to the war with Russia, “Azerpost” agreed with Ukraine to extend the maturity of investments in its securities by two years.

The source of investments in securities is “Azerpost”s customer funds. Last year the amount of funds in customer accounts rose from AZN 69.2 million to 354.8 million manats. Of which 100 million manats came from the state structures.

In 2021 with an income of 41.4 million manats “Azerpost” suffered a loss of 5.4 million manats. Last year the postal operator was joined by state-owned stamp manufacturer “Azərmarka”.

Note that “Azerpost” has 63 branches, 7 regional postal hubs, 4 express mail services, as well as a branch on special courier delivery of mail to state agencies

Source: Turan News Agency