Azerbaijani banking sector’s capitalization exceeds $5B
Baku, Azerbaijan, Jan. 6
By Maksim Tsurkov - Trend:
The Azerbaijani banking sector's capitalization rose by 21.5 percent in Nov. 2014, standing at 4,029 million AZN (over $5 billion) on Dec. 1 as compared to the same period of 2013, according to a report from the Central Bank of Azerbaijan (CBA).
The CBA report covered the outcomes of 11 months of 2014.
The report said there were 42 banks with a capital exceeding ten million AZN [a regulatory requirement of the CBA active in Nov.] in the reporting period, one bank more as compared to Nov. 2013.
The specific weight of this category of banks in the total capital of all banks in Azerbaijan stood at 99.8 percent in the reporting period.
One bank's capital was formed within a range from five million AZN to ten million AZN, and another one's capital - in a range from 3.5 million AZN to five million AZN.
The specific weight of these categories of banks in the aggregate capital of all the banks in Azerbaijan was 0.1 percent in the reporting period.
The CBA's requirement for the banks' minimum total capital was set at 50 million AZN by late 2014.
Azerbaijan has 44 banks - of them 42 are commercial and two are state-run.
There are 22 banks with foreign capital - in seven of them the specific weight of the foreign capital stands at 50 to 100 percent, and in 13 - up to 50 percent. There are also two local branches of foreign banks.
The official exchange rate on Jan. 6 is 0.7844 AZN/USD.
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