The commercial bank OJSC Azerbaycan Senaye Banki until the end of next year will increase the total capital level in conformity with the new regulations of the Central Bank.
As reported in the bank, at the general meeting the shareholders decided to raise the total capital to 50 million manat. As of August 1, the total capital of the bank amounted to 31.6 million manat.
According to the decision of the Central Bank of Azerbaijan on July 25 this year, the minimum requirements for total capital of existing banks, and registered capital of newly established banks increased to 50 million manat. The new standards will be effective from January 1, 2014.
The minimum requirement for the size of the total capital of banks has been 10 million manat since July 2007. -15D -
Economics
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