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Capitalization of Azerbaijani banking sector slightly increases

Business Materials 12 August 2012 13:30
Capitalization of the banking sector in Azerbaijan increased by 2.73 percent in the second quarter of 2012, and decreased by 2.03 percent compared to late June 2011 and amounted to 2.22 billion manat as of July 1, 2012, a statistical report of the Central Bank of Azerbaijan (CBA) said on Wednesday.
Capitalization of Azerbaijani banking sector slightly increases

Azerbaijan, Baku, Aug.11 / Trend A.Akhundov /

Capitalization of the banking sector in Azerbaijan increased by 2.73 percent in the second quarter of 2012, and decreased by 2.03 percent compared to late June 2011 and amounted to 2.22 billion manat as of July 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 hit 40, and decreasing by 2 banks compared to the previous month and decreasing by one bank compared to the first half of 2011.

Share of this category of banks in the total volume of capital of all banks was 99.4 per cent in the first half-year compared to 98.9 per cent as of July 1, 2011.

At present, three banks do not meet the CBA requirements on capitalization (the minimum size of the capital should be 10 million manat). Two bank (with share of 0.8 per cent) has capital ranging from 5 million to 10 million manat, and the third (0.2 per cent) - from 3.5 million to 5 million manat.

The official exchange rate is 0.7854 manat to $1 on Aug.11.

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