Aggregate capital of two of the 43 banks in Azerbaijan on the basis of December 2012 did not meet the minimum requirement of 10 million manat.
According to the Central Bank of Azerbaijan (CBA) in the reporting period there was a bank with total capital in the range of 5-10 million manat, and its share in the total capitalization of the banking system was equal to 0.3%. Over the month, the country did not have banks with capital of less than 3.5 million manat. Only one bank had capital within 3.5-5 mln.
The number of banks with a total capital of over 10 million manat in December increased one to 41. Their share in the total capital was equal to 99.5%.
The minimum requirement for the size of the total capital of banks since July 2007 is 10 million manat. According to the CBA's decision, from 1 January 2014 the figure will be 50 million manat. - 15B -
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review