Azeri Bank’s Average Capital Exceeds by 34% Central Bank’s Demand
OREANDA-NEWS. The banking sector has already ‘coped’ with the new standard requirement of the Central Bank of Azerbaijan to be of effect for existing banks from 1 January 2014. The average capital of the Azerbaijani bank already exceeds the new capital requirement by 34.1%.
The CBA informs that as of 1 July the overall capital of the country’s banks reached AZN 2.88 bn (absolute record) against AZN 2.679 bn by 1 April and AZN 2.57 bn by 1 January 2013.
As a result, average overall capital of the country’s domestic bank for the 1st half increased from AZN 59.837 million up to AZN 67.058 million.
By early 2012 the overall capital of the banking system totaled only AZN 1.886 bn and on the basis of the dynamics of 2012 (an increase of capital by 11.8% for the 1st half of 2012), on 25 July the CBA Board decided to raise the plank for banks up to AZN 50 million by 1 January 2014.