Capital of the two banks still does not meet the minimum requirements of the Central Bank
The total capital of two of the 43 banks in Azerbaijan on the basis of September 2013 did not meet the minimum requirement of 10 million manat.
According to the Central Bank of Azerbaijan (CBA) in the reporting month, there were two banks with total capital within 3.5-5 million manat, and their share in the total capitalization of the banking system was equal to 0.3 %. At the end of the month there were no banks with capital of less than 3.5 million and in the range of 5-10 million manat.
The number of banks with a total capital of over 10 million manat in September remained at 41. Their share in the total capital was equal to 99.7 %.
The minimum requirement for the size of the total capital of banks from July 2007 is 10 million manat. According to the CBA's decision last year to 1 January 2014 this figure will reach 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