Capitalization of banking sector in Azerbaijan jumps by 11 percent

Business Materials 19 July 2011 15:12 (UTC +04:00)

Azerbaijan, Baku, July 19 / Trend N.Ismayilova /

The capitalization of the banking sector in Azerbaijan increased by 1.6 percent in May and by 10.9 percent compared to May 2010, amounting to 2. 248.6 billion manat, the Central Bank of Azerbaijan (CBA) said.

According to statistic data of the CBA, the number of banks with capital exceeding 10 million manat, hit 41 in April, decreasing by one bank compared to late 2010. The share of this category of banks in the total amount of capital of all banks in the country in May, as in April and early year amounted to 98.9 percent.

Two banks' (with share of 0.9 percent) capital is formed in the range from 5 to 10 million manat, one bank (0.2 percent) - from 3.5 million to 5 million manat

The official exchange rate is 0.7862 manat to $1 on July 19.