IBA reduces share of US government bonds in its investment portfolio

In 2023, the International Bank of Azerbaijan (IBA) reduced the share of US government bonds in its investment portfolio, opting instead for local bonds, Azernews reports citing based on the bank's individual audit report.

At the beginning of 2023, the volume of US Treasury bills in the portfolio stood at 1 billion manats. By the end of the year, this figure had decreased to 11.37 million manats.

In contrast, the bank increased its holdings of state bonds issued by the Ministry of Finance of Azerbaijan. The value of this portfolio rose from 859.67 million manats at the beginning of the year to 1 billion manats and 182.27 million manats by year-end.

The total volume of the bank's investment securities portfolio decreased by 24.5 percent over the last year, amounting to 2 billion and 7 million manats.