Central Bank Discussing Further Capitalization with Shareholders of Banks

Business Materials 18 November 2006 11:37 (UTC +04:00)

The National Bank of Azerbaijan is holding intensive discussions with shareholders of the banks operating in the country with the object of their further capitalization, Rufat Aslanli, Director General of the Central Bank told Trend.

According to him, the issue on the capitalization of the banks operating in the country has recently become the key issue of the agenda of the Central Bank.

According to the official data obtained from the banks, almost all shareholders of the banks operating in the country pledged guarantees on forming the joint capital at 8.2 mln AZN to January 1, 2007.

We do not consider a problem towards the banks that have nor provided the Central Bank with necessary data. There are few such banks in the country, not more than 10, said the Director General of the National Bank. Today, the capital of 11 banks has already exceeded 10 mln. AZN. The leading banks, whose assets exceed 80 percent in the total banking assets, are not facing difficulties in the issue to increase the capital to 10 mln. AZN. At the same time, there are some outsider banks which the Central Bank is working individually with, said Mr. Aslanli.

According to the Central Bank requirement, until November 1, the banks operating in the country presented their programmes with the schedule on increasing the capital up to 10 mln. AZN till July 1, 2007.