The total capital of two of the 43 banks in Azerbaijan on the basis of July 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 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 July 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
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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