BANK вЂњCAPITALвЂњ PLANS TO TRIPLE FUNDS BY END OF 2005
The вЂњCapitalвЂќ bank, the only 100% state bank in Azerbaijan will triple its balance funds by the end of 2005. For the moment, the bankвЂ™s balance capital is 67 billion AZM, the Board chairman of the bank Rauf Rzayev told Trend.
"Increase of the balance capital takes place usually due to the operation of the bank itself. On 1 January 2004 the bankвЂ™s capital was 32 billion manats, on 1 January 2005 РіРѕРґСѓ вЂ" 46 billion AZM, the balance capital for 1 July 2005 was 64 billion manats.
By the double growth, namely for 32 billion manats, only 9 billion manats were caused by the growth of the statutory capital. By the end of the current year the capital will reach minimal 90-95 billion AZM, Rzayev noted.