Capitalization of banking sector in Azerbaijan jumps by 8 percent
Azerbaijan, Baku, Nov.5 / Trend N.Ismayilova /
The capitalization of the banking sector in Azerbaijan increased by 0.7 percent in September and by 8.1 percent compared to early 2011, amounting to 2.345 billion manat as of Oct.1, the Central Bank of Azerbaijan (CBA) said on Saturday.
According to statistic data of the CBA, the number of banks with capital exceeding 10 million manat, hit 42 in September, increasing by one bank compared to August, while compared to late 2010 it remained unchanged. The share of this category of banks in the total amount of capital of all banks in the country in September hit 99.4 percent compared to 98.9 percent in August and early 2011.
One bank (with share of 0.9 percent) capital is formed in the range from 5 to 10 million manat, while another bank (0.2 percent) - from 3.5 million to 5 million manat
The official exchange rate is 0.7868 manat to $1 on Nov.5.