The FINANCIAL — According to APA-Economics, the National Bank of Azerbaijan will not raise capital requirements for commercial banks by the end of 2008.
Rufat Aslanli, Deputy Chair of the Board of the National Bank, said the minimum requirements for the total capital was set at AZN 10 million on July 1, 2007.
“Banks with more than 10 million capitals doubled their capital during the past period. Capitalization is vital for growth of a bank. If capitalization goes on at a satisfactory rate, the capital requirement will not be reconsidered,” he noted.
Aslanli said the National Bank has set a certain period of time for 9 banks to meet the requirements after evaluating their capital adequacy.
There are 46 banks in Azerbaijan. 34 banks have achieved membership of Azerbaijan Deposit Insurance Fund after successful evolution.
