Top five banks provide 46 percent of capitalization of banking sector in Azerbaijan

Business Materials 5 August 2011 19:31 (UTC +04:00)

Azerbaijan, Baku, Aug. 5 /Trend, N.Ismayilova/

In June 2011, the capitalization of the banking sector of Azerbaijan rose by 0.9 percent, but compared to the end of 2010 - 4.6 percent, amounting to 2.269.2 billion manat as of July 1, a source at the Central Bank of Azerbaijan (CBA) told Trend.

According to data provided by the CBA, the number of banks with capital exceeding 10 million manat was one less as compared to the end of 2010, totaling 41 banks in June. The share of this category of banks in the total capital of all banks in the country in June amounted to 98.9 percent as in May and the beginning of the year.
The capital of two banks (with specific weight of 0.9 percent) formed within five to 10 million manat, one bank (0.2 percent) - 3.5 million to five million manat.
As of July 1, the total capital of Azerbaijani banks amounted to 1.897.14 billion manat. According to the CBA, 45.66 percent (866.33 million manat) of the total aggregate capital of the banking system accounted for the top five banks in the country. The banks ranking 6-15th form 25.3 percent of total capital or 479.98 million manat, and the banks ranking the 16th to 30th form 337.32 million manat (17.78 percent).
The 16 banks ranking 31st to 44th form 11.25 percent of total capital (213.51 million manat).