Capitalization of Azerbaijani banking sector increases by 9.7 percent per year
Azerbaijan, Baku, April 4 / Trend N.Ismayilova /
The capitalization of Azerbaijan's banking sector increased by 1 percent in February 2011. It increased by 9.7 percent and hit 2190,31 million manat compared to the same period of 2010, the Central Bank of Azerbaijan (CBA) said.
According to the CBA statistics, the number of banks with capital exceeding 10 million manat, hit 40 units as of February 2011, decreasing by two units compared to December 2010 and by 1 unit compared to January 2011. The weight of this category of banks in the total capital of all banks in the country in February hit 98.5 percent. The figure hit 98.9 percent in January and 98.9 percent in December 2010.
The capital of three banks (with weight of 1.3 percent) is formed in the range from 5 million manat to 10 million manat, one bank (0.2 percent) - from 3.5 million manat up to 5 million manat.
The official exchange rate is 0.7926 manat to $1.