Top Azerbaijani banks hold 60 percent of sector liabilities
Azerbaijan, Baku, Nov. 15 / Trend , N.Ismayilova /
The liabilities of Azerbaijani banks in the third quarter totaled 11.223 billion manat. Over 60 percent fall to the country's biggest five banks, the Central Bank of Azerbaijan (CBA) stated in a report.
According to the CBA, some 60.36 percent of the total liabilities accounted for the top five banks.
The banks occupying 6-15 places formed 22.77 percent of the liabilities, or 2.555.86 billion manat. The banks holding 16-30 formed 13.36 percent, or 1.499 billion manat. Some 16 banks holding places 31-44 formed 3.51 percent of the total liabilities (393.56 million manat).
As of Oct.1, the aggregate capital of the Azerbaijani banks amounted to 2.052 billion manat. According to the CBA, 41.17 percent (844.76 million manat) of the total aggregate capital of the banking system accounted for the top five banks.
The banks occupying 6-15 places formed 28.07 percent of the total capital, or 575.94 million manat. The banks holding 16-30 formed21.84 percent, or 448.07 million manat. Some 16 banks holding places 31-44 formed 8.93 percent of total liabilities (83.27 million manat).
The official exchange rate is 0.7866 manat to $1 on Nov. 15.