Aggregate capital of three of the 43 banks in Azerbaijan up in November 2012 did not meet the minimum requirement of 10 million manat.
According to the Central Bank of Azerbaijan (CBA), the capital of a bank is less than 3.5 million manat, one has it within 3.5-5 mln, while another bank has it within 5-10 million manats. The total share of the latter two groups of banks in total capitalization sector is 0.2% and 0.3% respectively.
The number of banks with a total capital of over 10 million manat in October remained unchanged at 40. Their share in the total capital is equal to 99.5%.
The minimum requirement for the size of the total capital of banks in July 2007 is 10 million manat. According to the CBA's decision last year to 1 January 2014 the figure is 50 million manat. - 15B -
Economics
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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