Capitalization of Azerbaijani banks increase almost nine percent

Business Materials 1 July 2009 20:38 (UTC +04:00)

Azerbaijan, Baku, July 1 / Trend , N.Ismaylova /

During May 2009 the capitalization of the banking sector of Azerbaijan rose 1.6 percent and 8.3 percent compared with the beginning of the year and totaled 1,846.73 million manat, the Central Bank of Azerbaijan said on July 1.

As the first of May the total capital of 41 bank exceeded 10 million manat against 43 banks at the beginning of the year. Accordingly, the share of this category of banks in the total capital of all banks fell from 98.6 per cent to 97.5 per cent.

As of 1 May, the capital of 41 banks compared to 43 banks in the beginning of the year exceeded AZN 10mln. Their specific weight in the aggregate amount of capital of all banks made up 97.5%. Four banks with the special weight of 2.2% have formed their capital between AZN 5 and 10mln, one bank - AZN 3.5 and 5mln.

There are 46 banks in the country holding license.

Official rate on July 1 is 0.8042 AZN/USD.

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