There is a dynamic progress in capitalization of banks according to estimation of the National Bank of Azerbaijan (NBA), reports Trend citing Rufat Aslanli, a member of Administration of NBA, heading Department of Control of Activity of Banks.
В"We do not see special problems. Meetings with shareholders of these banks, and seeing their persuasion gives us some hope that the norms provided for capitalization up to July 01, 2006 will be met. Todayss tendency inspires optimism says R. Aslanli.
According to the schedule approved by the NBA the next minimums for capital are AZN 6.4 million for July 01, 2006 and AZN 8.2 million for January 01, 2007. The minimum aggregate capital of each bank should be AZN 10 millions.
Today the amount of aggregate capital of five banks is less than 5 million manats (AZN?) but it is more than $5 millions. (This requirement was established for January 1, 2006)
В"This should not be considered as a violation of law, as the difference makes 30-40 manats only. But the capital of two banks is less than this norm. informed the member of Administration of NBA. The capital of 9 banks already exceeded 10 million manats.
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