The aggregate capital of four of the 43 banks in Azerbaijan on the basis of July 2012 did not meet the minimum requirement of 10 million manat.
According to the Central Bank of Azerbaijan (CBA), the capital of one bank is less than 3.5 million manat, one bank has it within 3.5-5 million manat, and two banks have from 5 to 10 million manat. The total share of the latter two groups of banks in total capitalization of the sector is 0.2% and 0.8%.
The number of banks with a total capital of over 10 million manat fell by 1 to 39 in July. Their share in the total capital was equal to 99%.
The minimum requirement for the size of the total capital of banks has been 10 million manat since July 2007. According to the recent decision of CBA, the figure will be 50 million manat from 1 January 2014. - 15B -
Economics
-
An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
-
On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
-
Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
-
Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
Leave a review