Baku, Azerbaijan, April 11
By Emin Aliyev - Trend
The capitalization of Azerbaijan's banking sector increased by 28.7 percent in February 2014 compared to the same month of 2013 and amounted to 3.36 billion manat as of March 1, 2014.
There were 41 banks with the capital worth over 10 million manat as of the reporting period, according to the Central Bank of Azerbaijan's statistics report. This did not change compared to late February 2013.
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.
There were no banks with the capital ranging from five million manat to ten million manat in February 2014 as in February 2013.
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.
The official exchange rate is 0.7844 AZN/USD on April 11.
Translated by NH
Edited by CN