Azerbaijan, Baku / Trend corr I. Khalilova / On 29 November, the administration of the National Bank of Azerbaijan (NBA) took decision to issue general license enabling implementation of banking activities in Azerbaijan to 2 Azerbaijani banks - PasaBank and Avrasia Bank, the Director of the Department on Control over Credit Organizations at the NBA Adishirin Gasimov said on 29 November.
According to Gasimov, both banks have 100% Azerbaijani capital. They will implement universal activities and will offer all range of banking services. They are expected to be involved into organization and enhancement of services offered to clients.
There are 44 banks in the country and only Poctbank does not carry out accounts due to full limitation of the banking operations. With PasaBank and Avrasia Bank the total number of banks increased to 45.
As of 1 October, the aggregate amount of all 43 banks functioning in Azerbaijan totalled AZN 959.7mln, an increase of 59.1% compared to the beginning of 2007 (as of 1 January it was AZN 603.3mln). However, due to the 2 new banks capitalization will increase at least by AZN 20mln, as in compliance with the NBA's requirements, minimal amount of authorized capital of banks in Azerbaijan must not be less than AZN 10mln.