The total capital of two of the 43 banks in Azerbaijan on the basis of June 2013 did not meet the minimum requirement of 10 million manat.
According to the Central Bank of Azerbaijan (CBA) in the reporting month, with total capital of banks within the 3.5-5 million manat was two, and their share in the total capitalization of the banking system was equal to 0.3%. At the end of the month left in the country of 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 June remained at 41. Their share in the total capital is 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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Azerbaijan’s oil and condensate production and exports saw a marked decrease during the period from January to September 2024, continuing a downward trend compared to previous years.
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Investments in fixed assets in Azerbaijan totaled 12.7 billion manats ($7.5 billion) in the first nine months of 2024, down 3.9 percent compared to the same period last year, the State Statistics Committee said on Monday. Investment in the oil and gas sector fell by 8.4 percent, while investment in the non-oil and gas sector dropped by 1.6 percent.
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Industrial production in Azerbaijan rose by 1.3% year-on-year in the first nine months of 2024, reaching 47.8 billion manats ($28.2 billion), the State Statistics Committee reported on Monday. The growth was driven by a 0.6% increase in the oil and gas sector and an 8.7% rise in the non-oil and gas sector.
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As of September 2024, the labor market in Azerbaijan has demonstrated active activity, total employment has reached 1,754.9 thousand people. The labor force is almost equally divided between the state and non-state sectors, which employ 878.3 thousand and 876.6 thousand people, respectively, according to the State Statistics Committee.
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