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Bank capitalization soars by 6% in Azerbaijan

Bank capitalization soars by 6% in Azerbaijan

29 May 2009 16:29 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of May 1, total capital of Azerbaijan-based banks amounted to AZN 1 583.8 million, up 28.2% or AZN 437.8 million from a year ago.

However, total capital of banks grew at a slower rate of 6.2% or AZN 92.1 million or by AZN 23 million a month during January-April, said the Central Bank of Azerbaijan.

The banksâ€™ total capital increased by AZN 482.6 million for the full year or by AZN 40.2 million on average a month in 2008.

That is to say, the banks halved capitalization as against a year ago.

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