Capitalization of Azerbaijani banking sector ups by 5 percent per year
Azerbaijan, Baku, Jan. 8 / Trend A. Akhundov /
The capitalization of the Azerbaijani banking sector reached 2.468.3 billion manat by Dec. 1, 2012 increasing by 5 percent per year, the Azerbaijani Central Bank's statistics report said today.
According to the CBA, the number of banks with capital exceeding 10 million manat hit 40 as of November as the previous month. The share of this category of banks in the total volume of capital of all banks in the country as of this period was 99.5 percent.
One bank's capital (with a share of 0.3 percent) was formed in the range from 5 million manat to 10 million manat, other bank's capital (0.2 percent) - from 3.5 million manat to 5 million manat manat, another bank's capital - up to 3.5 million manat.
Today 43 banks operate in Azerbaijan. The aggregate capital of the banks covering 89 percent of the assets of the entire banking sector, already meets the new demand of the CBA for capitalization of 50 million manat. This requirement comes into force from January 2014.
The official exchange rate is 0,7848 AZN/USD on Jan. 8.