Summary authorized capital of the Azerbaijan’s banks exceeded $ 360 million

Business Materials 31 October 2005 16:04 (UTC +04:00)

The summary authorized capital of the banks operating in Azerbaijan grew to 1 166,5 billion AZM (some $362,6 million). From the total volume of the authorized capital the share of the state banks is 140 billion AZM (over $30 million), the share of private banks is 1 026,5 billion AZM (about $332.6 million), the National Bank of Azerbaijan (NBA) told Trend. The increase of the total authorized capital for January-September happened on the account of growth of the commercial banks capital for 115,5 billion AZM (over $25 million) or by 12,7%.

The authorized capital of private banks with the foreign capital for 1 October 2005 was 473,2 billion AZM (about $103 million). The share of foreign investments in the authorized capital was 19,4%.

By 1 October 2005 the average authorized capital of each bank is 27,1 billion AZM (about $6 million).

According to NBA data, for 1 October 2005 the license for banking operations in Azerbaijan have 123 credit organizations. 80 from them are non-banking.

376 bank branches and 25 non-banking credit organizations branches are operating in Azerbaijan.