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Capitalization of banking sector in Azerbaijan jumps by 6.4 percent

Business Materials 26 September 2011 17:24
The capitalization of the banking sector in Azerbaijan increased by 1.7 percent in July and by 6.4 percent compared to early 2010, amounting to 2.308.7 billion manat as of Aug.1, the Central Bank of Azerbaijan (CBA) said.

Azerbaijan, Baku, Sept. 26 / Trend, N.Ismayilova /

The capitalization of the banking sector in Azerbaijan increased by 1.7 percent in July and by 6.4 percent compared to early 2010, amounting to 2.308.7 billion manat as of Aug.1, 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 42 in July, increasing by one bank compared to June 2011, while compared to late 2010 remained unchanged.

The share of this category of banks in the total amount of capital of all banks in the country in July amounted to 99.4 percent compared 98.9 percent in June and early year.

Two banks' (with share of 0.4 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 0.7869 manat to $1 on Sept.26.

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