More than half of total authorized capital in Azerbaijan accounts for five banks

BAKU, Azerbaijan, Nov. 13

By Zeyni Jafarov – Trend:

The International Bank of Azerbaijan took the first place in terms of the volume of authorized capital for 3Q2020, Trend reports.

According to the audit report, the volume of the bank's authorized capital amounted to 1.22 billion manats ($718 million), which is 15 percent of the bank's assets.

The second position in the rating was taken by Xalq Bank, with a total authorized capital of 364.8 million manats. Yelo Bank ranked third, with its authorized capital amounting to 348 million manats ($205 million) as of early October.

The next two positions were shared by Pasha Bank and VTB Bank with indicators of 333 million manats ($196 million) and 315.8 million manats ($186 million), respectively.

The total authorized capital of the five listed banks accounts for 2.59 billion manats ($1.52 billion), which is 57.5 percent of the total authorized capital of the banks.

In total, the authorized capital of Azerbaijani banks reaches 4.5 billion manats ($2.65 billion).

The full rating of Azerbaijani banks in terms of authorized capital for the third quarter of 2020 is provided below:

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