Capitalization of Azerbaijani banking sector slightly increases
Azerbaijan, Baku, July 4 / Trend A.Akhundov /
Capitalization of the banking sector in Azerbaijan increased by 1.49 percent in May 2012, and decreased by 2.73 percent compared to May 2011 and amounted to 2.187.2 billion manat as of June 1, 2012, a statistical report of the Central Bank of Azerbaijan (CBA) said on Wednesday.
According to the CBA, number of banks with capital exceeding 10 million manat amounted to 42, following May 2012, and remaining unchanged compared to the previous month and increased by one bank compared to May 2011. Share of this category of banks in the total volume of capital of all banks was 99.5 per cent in May as in April 2012 and compared to 98.9 per cent as of June 1, 2011.
At present, two banks do not meet the CBA requirements on capitalization (the minimum size of the capital should be 10 million manat). The first bank (with share of 0.3 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 0.7856 manat to $1 on July 4.