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
-
Food prices in Azerbaijan’s capital, Baku, increased by 5% during the first nine months of 2024, highlighting rising inflationary pressures in the domestic market, the Turan agency reported.
-
Global grain prices continued their downward trajectory in August, as the FAO grain price index slipped 0.5% from July and a sharp 11.9% year-on-year decline, reflecting weakening demand and intensifying competition among major exporters. Wheat prices were particularly impacted by higher-than-anticipated production levels in Argentina and the United States, exerting additional downward pressure on the international market.
-
Azerbaijan’s national air carrier, AZAL, has enhanced its international travel offerings through a new partnership with Ethiopian Airlines, providing passengers with increased connectivity and convenience for global travel, the airline announced on Monday.
-
The Azerbaijan Trade Forum, held on October 7, underscored the vital role of small and medium-sized enterprises (SMEs) in enhancing the country’s non-oil exports. Jointly organized by the Small and Medium Business Development Agency (SMBDA) and the Association of Customs and Logistics Companies of Azerbaijan, and supported by Pasha Holding, the event brought together stakeholders from various sectors, including import-export, logistics, production, and customs representation.
Leave a review