Five banks under liquidation in Azerbaijan
Azerbaijan, Baku, Nov. 8 / Trend N. Ismayilova /
According to the Central Bank of Azerbaijan (CBA), five banks were in the process of going into liquidation in the country during the third quarter of this year, the CBA's report said. As of Jan. 1, 2011, four banks were in the process of liquidation and two banks in the third quarter of 2010.
About 44 banks had licences to conduct banking activity in the republic during the reporting period.
At present about 22 banks operate with foreign capital in the country. Foreign capital in seven banks is formed from 50 to 100 per cent and up to 50 per cent in 13 banks. Two local branches of foreign banks also operate.
About six bank branches operate abroad, including six representative offices, two subsidiaries and one branch. Five representative offices of foreign banks also operate in Azerbaijan.
As of the end of the third quarter, about 656 local branches of banks operated in the country, including 37 branches of the International Bank of Azerbaijan and 619 branches of private banks. The number of local branches has been increased by 1.8 per cent since early 2011.
The number of bank branches reached 147 or 22.5 per cent more compared to early 2011.