Azerbaijan, Baku, May 5 / Trend , N.Ismaylova /
The capitalization of the banking sector of Azerbaijan grew one percent in March 2009, and 4.8 percent compared with the beginning of the year, the Central Bank of Azerbaijan (CBA) said on May 5. The total capital of banks is 1 787.22 million manat.
According to statistics provided by the Central Bank, as of 1 April 2009, the capital of 42 banks exceeded 10 million manat compared to 43 banks as of the beginning of the year. Accordingly, the share of this category of banks in the total capital of all banks fell from 98.6 percent to 98 percent.
Three banks with the special weight of 1.7 percent have formed their capital between AZN 5 and 10 million, one bank - AZN 3.5 and 5million.
46 banks held a license for banking activities in the country. Their number reduced as a result that the license of two banks, Poctbank and Atlantbank, is invalid. The NBA liquidated the licenses of these two banks from 9 July. Permission for banking activity was provided to Nakhchivanbank and Azfinans Bank. Three banks are under process of liquidation.
Currently 23 banks operate in Azerbaijan with the participation of foreign capital. In seven of them the share of foreign capital is 50 to 100 percent, in 14 banks - up to 50 percent, and there are two local branches of foreign banks.
The number of banks functioning abroad is 9, including 6 representations, two subsidiaries and one branch. Also four representations of foreign banks function in Azerbaijan.
Official rate on May 5 is 0.8034 AZN/USD.
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