Capitalization of Azerbaijani banking sector increases by over a quarter per year
Baku, Azerbaijan, May 5
By Emin Aliyev - Trend:
The capitalization of Azerbaijan's banking sector increased by 28.1 percent in March 2014 compared to March 2013 and amounted to 3.42 billion manats as of April 1.
There were 41 banks with the capital worth over 10 million manats as of the reporting period as in 2012. This did not change compared to late March 2013. The specific weight of this category in the total volume of capital of all the country's banks amounted to 99.7 percent as of the reporting period, according to the Central Bank of Azerbaijan (CBA).
There was one bank with the capital ranging from five million manats to ten million manats in 2013. There was one bank with capital ranging from 3.5 million manats to five million manats 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 and 0.1 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 manats by late 2014.
The official exchange rate is 0.7843 AZN/USD on May 5.
translated by NH
edited by CN