Capitalization of banking sector in Azerbaijan jumps by 8.4 percent

Business Materials 5 January 2012 13:36 (UTC +04:00)

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

The capitalization of the banking sector in Azerbaijan increased by 0.2 percent in November and by 8.4 percent compared to early 2011, amounting to 2.352.2 billion manat as of Dec.1, the Central Bank of Azerbaijan (CBA) said on Thursday.

According to the CBA, the number of banks with capital exceeding 10 million manat, hit 41 in November, remaining unchanged compared to October, while compared to early 2011 decreased by one bank. The share of this category of banks in the total amount of capital of all banks in the country in November hit 99 percent compared to 99 percent in October and 98.9 percent in early 2011 respectively.

Two banks' (with share of 0.8 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 0.7865 manat to $1 on Jan.5.