Azerbaijan, Baku, Feb. 11 / Trend N.Ismayilova /
Capitalization of Azerbaijani banking sector increased by 3.2 per cent in December, 2011 and by 11.9 per cent compared to the beginning of 2011 to exceed 2.427 billion manat, the statistical report of the Central Bank of Azerbaijan (CBA) said on Saturday.
According to the CBA, number of banks with capital exceeding 10 million manat, amounted to 42 as of Dec 2011, increasing by one bank compared to November, 2011 and remaining unchanged compared to early 2011. Share of this category of banks in the total volume of capital of all banks was 99.4 per cent in December, 2011 compared to 99 per cent in November and 98.9 per cent as of early 2011.
At present two banks doesn't meet the CBA requirement on capitalization (the minimum size of the capital should be 10 million manat). The first bank (with share of 0.4 per cent) has capital ranging from 5 million to 10 million manat, and the second (0.2 per cent) - from 3.5 million to 5 million manat.
The official exchange rate is 0.7863 AZN to $1 on Feb.11