Baku, Azerbaijan, August 8
By Ilaha Mammadli - Trend:
The capitalization of the Azerbaijani banking sector increased by 27.9 percent in June 2014 compared to the same period last year and as of July 1 amounted to 3.653 billion AZN, according to the Azerbaijani Central Bank (CBA) report on the first half of 2014.
The CBA reports that the number of banks with capital exceeding 10 million AZN [the applicable regulatory requirements of the Central Bank] made up 42 banks during the reported period, increasing by one unit compared with late June of 2013. The specific weight of this category in the total volume of all banks` capital of the country made up 99.7 percent during the reported period.
The capital of one bank was formed ranging from five million to 10 million AZN, another one - from 3.5 million AZN to five million AZN. The specific weight on this categories of the bank in the total volume of capital of all banks of the country made up 0.2 and 0.1 percent respectively.
The requirement of the CBA for the minimum total capital of banks is defined at the level of 50 million AZN by the end of 2014.
Some 43 banks were operated in Azerbaijan in the second quarter of 2014: 42 commercial banks and one state-owned bank. The banks with foreign capital totalled 22 units. The share of foreign capital ranges from 50 to 100 percent in seven of them , in 13 banks - up to 50 percent. Also two local branches of foreign banks operate in the country.
The official exchange rate on August 8 is 0.7843 AZN / USD.
Edited by CN