Azerbaijan’s banking sector capitalization increases by almost third during a year
Baku, Azerbaijan, June 8
By Zulfiyya Qurbanova - Trend:
The capitalization of Azerbaijan's banking sector increased by 33.2 percent in April 2014 compared to April 2013 and amounted to 3.61 billion manat as of April 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 reduced by 1 unit compared to late April 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.
The capital of one bank ranged from five million manat to 10 million manat, the capital of other bank ranged from 3.5 million manat to five million manat. The specific weight of this category in the total volume of capital of the country's all banks amounted to 0.2 percent and 0.1 percent as of the reporting period.
Moreover, the aggregate capital of one of the country's banks amounted to less than 3.5 million manat in April 2014.
The Central Bank's requirement for the minimum amount of the banks' total capital is set at the level of 50 million manat by late 2014.
The official exchange rate is 0,7843 AZN/USD on June 8.