Baku, Azerbaijan, Feb. 9
By Emin Aliyev - Trend:
The capitalization of Azerbaijan's banking sector increased by 32.42 percent in 2013 compared to 2012 and amounted to 3.39 billion manat as of January 1.
There were 41 banks with the capital worth over 10 million manat as of the reporting period as in 2012. 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, according to the Central Bank of Azerbaijan (CBA).
There were no banks with the capital ranging from five million manat to ten million manat in 2013, while there was one such bank in the county's banking market as of 2012.
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 the country's all banks amounted to 0.2 percent as of the reporting period.
The Central Bank's requirement for the minimum amount of total capital of banks is set at 50 million manat by late 2014.
There are 43 banks in Azerbaijan.
The official exchange rate is 0.7844 AZN/USD on Feb. 9.
Translated by N.H.