Azerbaijani banking sector’s capitalization increases by over a quarter
Azerbaijan, Baku, July 5 / Trend, E. Aliyev /
The capital of Azerbaijani banks continued to rise in January-May 2013, although the banking sector still includes some banks that do not meet minimum regulatory capital requirements (10 million manat). During the reporting period, capitalization of the banking sector in Azerbaijan in relation to the same period in 2012 increased by 26.78 percent, amounting to 2.772 billion manat as of June 1.
According to the CBA, the number of banks with capital exceeding 10 million manat was 41 during the reporting period, while in January-May of last year the number was 42. The share of these banks in the total capital of all banks in the country stood at 99.7 percent by the end of the reporting period.
During the reporting period, there were no banks with capital ranging from five million manat to ten million manat, whereas one such bank was present on the country's banking market in May last year.
This bank has moved into the category of banks with a capital of 3.5 million manat to five million manat. There were two such banks at the end of the reporting period.
The share of these banks in the total capital of all banks in the country by the end of the reporting period amounted to 0.3 percent.
There are 43 banks in Azerbaijan.
The official exchange rate on July 5 is 0.7844 AZN / USD.