Foreign banks in Azerbaijan return positions on capitalization
Azerbaijan, Baku, May 5 / Trend I. Khalilova /
In the first quarter of 2010 a rearrangement occurred in the capital base of share holding of foreign capital in Azerbaijani banks' authorized capital. Although over the year the number of banks with foreign capital remains 23.
The Azerbaijani Central Bank said that the weight of five banks with 100 percent foreign capital as of April 1 amounted to 50.1 percent of the total. Their share was at 45.5 percent last year, in the first quarter of 2009 - 50.5 percent. During the last year there was reduction in the ratio of capital of these banks to the total capital of banks with foreign share holding.
The weight of the four banks varies from 50 to 100 percent, up to 22.8 percent compared to 24.7 percent and 21.8 percent respectively.
The share of the six banks with foreign capital from 20 to 50 percent reduced from 16.8 percent at the end of last year up to 14.9 percent of the total share capital of banks with foreign capital. In the first quarter of 2009, their share was 15,3 percent.
There is 10-20 percent foreign share holding in the capital of two banks. Their share is 2,9 percent. Whereas at the beginning of the year it was 2.7 percent and April 1, 2009 - 2,3 percent.
Six banks have up to 10 percent of foreign share holding, which share in the total authorized capital of foreign banks is 9.2 percent compared to 10.3 percent and 10.2 percent respectively.
Today, there are 47 banks in Azerbaijan, which aggregate capital as of April 1 hits 1,994,75. It hit 0.5 percent in the first quarter, but the annualized growth was 11.6 percent.
On May 5, the official exchange rate is 0.8035 manat to $1.