On January 1st The National Bank of Azerbaijan (NBA) set the banks statutory capital at 8.2mln mantas, banks were given to February 1st to raise their capital, Trend reports.
On 7 February 2007 Rufat Aslanly, the NBA General Director, stated in a meeting with shareholders and management of bank the NBA received confirmation of the target capital. The requirement was not fulfilled by five banks; analysis showed that they failed to collect the necessary funds. It was explained by New Year holidays, which hampered some bank and made emissions for the increase of their capital.
As of some data, the banks fulfilled their capital and reports submitted by February 1st should reflect this, Mr. Aslanly stressed.
So far, only one bank has not submitted a report and 43 banks in the country fulfilled the requirement. Mr Aslanly said that at present 11 banks have fulfilled the NBA's requirement on statutory capital set in the amount of 10mln manats, established as of 1 July 2007. These are out of the risk zone, while the rest of the banks have not confirmed fulfillment of this requirement.