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Capitalization of Azerbaijani banks increases by 7 percent

Business Materials 2 December 2010 17:08 (UTC +04:00)

Azerbaijan, Baku, Dec. 2 / Trend N.Ismayilova /

The capitalization of the Azerbaijani banking sector reached 2.152.35 billion manat in October, or 0.8 percent more than last month and 7.4 percent more than in early 2010, the Central Bank of Azerbaijan (CBA) reported.

According to the CBA, the number of banks with capital exceeding 10 million manat reached 41 by late October. The weight of these banks in the total capital of the market remained unchanged at 97.8 percent.

Four banks (with a specific weight of 1.8 percent) have capital ranging from 5 million to 10 million manat. Two banks (0.4 percent) have capital ranging from 3.5 million to 5 million manat.

The official exchange rate is 0. 8 manat to $2 Dec. 2.

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