BAKU, Azerbaijan, Aug. 3
By Ilkin Seyfaddini - Trend:
JSCB Hamkorbank has become one of the first banks in Uzbekistan to start investing at London Stock Exchange, Trend reports with reference to the bank.
The first transaction of the bank at London Stock Exchange was held on 30 July 2020, and it included te purchase of Eurobonds issued by Uzbekistan. The number of securities and the amount of the transaction have not been disclosed yet.
“The international securities market was chosen as less risky. The bank believes that the new direction on receiving additional income will allow better diversification of assets; such operations provide an opportunity for effective management of the bank's assets, and the wide use of futures and options will allow effective management of currency risks,” the message said.
In February 2019, Uzbekistan successfully placed $1 billion worth of sovereign government Eurobonds for the first time in its history. They were highly appreciated by international investors and demand for them was four times higher than the amount placed.
---
Follow author on Twitter: @seyfaddini
