The aggregate capital of four of the 43 banks in Azerbaijan by the end of September 2012 did not meet the minimum requirement of 10 million manat.
According to the Central Bank of Azerbaijan (CBA), the capital of the bank is one with the month of June is less than 3.5 million manat, even one it is within 3.5-5 million manat, and two banks - 5.10 million manats. The total share of the latter two groups of banks in total capitalization sector is 0.2% and 0.7%.
The number of banks with a total capital of over 10 million manat in September remained unchanged at the level of 39-year. Their share in the total capital reached 99.1%.
The minimum requirement for the size of the total capital of banks in July 2007 is 10 million manat. According to the recent decision of CBA from 1 January 2014, the figure will be 50 million manat. - 15B -
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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