Baku, Azerbaijan, Feb. 5
By Jamilya Jafarova - Trend:
The Azerbaijani banking sector's capitalization rose by 22.8 percent in 2014, standing at 4.160,1 billion AZN as compared to the same period of 2013, according to a report from the Central Bank of Azerbaijan (CBA).
The official exchange rate on Feb. 5 is 0.7844 AZN/USD.
The report said there were 43 banks with a capital exceeding ten million AZN in the reporting period, one bank more as compared to 2013.
The specific weight of this category of banks in the total capital of all banks in Azerbaijan stood at 99.8 percent in the reporting period.
One bank's capital was formed within a range from five million AZN to ten million AZN, and another one's capital - in a range from 3.5 million AZN to five million AZN.
The specific weight of these categories of banks in the aggregate capital of all the banks in Azerbaijan was 0.1 percent in the reporting period.
The CBA's requirement for the banks' minimum total capital was set at 50 million AZN by late 2014.
Azerbaijan has 45 banks - of them 43 are commercial and two are state-run.
There are 23 banks with foreign capital - in eight of them the specific weight of the foreign capital stands at 50 to 100 percent, and in 13 - up to 50 percent. There are also two local branches of foreign banks.
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