Baku, Azerbaijan, Jan.13
By Emin Aliyev - Trend:
The capitalization of Azerbaijan's banking sector increased by 34.4 percent in January-November 2013 compared to the same period of 2012 and amounted to 3.32 billion manat as of Dec.1.
According to the Central Bank of Azerbaijan (CBA), the number of banks with over 10 million manat worth of capital was 41 as of the reporting period, while in January-November 2012, their number was equal to 40. The specific weight of this category in the total volume of capital of all the country's banks amounted to 99.8 percent as of the reporting period.
Banks with capital ranging from five million manat to 10 million manat were absent in early 2013, while there was one such bank in the county's banking market as of November.
There were two banks with capital ranging from 3.5 million manat to five million manat as of the reporting period. The specific weight of this category in the total volume of capital of all the country's banks amounted to 0.2 percent as of the reporting period.
The Central Bank's requirement for the minimal volume of the banks' aggregate capital is planned to be 50 million manat by late 2014.
Some 43 banks operate in Azerbaijan.
The official exchange rate on Jan.13 is 0.7844 AZN/USD.
Translated by L.Z.
Edited by C.N.