BANKS’ AUTHORIZED CAPITAL STOCK AVERAGES 18 BLN MANATS

23.07.2004 [16:26]
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As of June 1, 106 credit organizations own licenses for banking operations, the National Bank’s press service told AzerTAj. 63 of them are non-banking credit organizations; 41 are permitted to accept deposits from the population, 42 - to perform currency operations, 1 - precious metal operations, and 27 have licenses for credit cards operation.

43 banks are operating in Azerbaijan as of June 1, 2004. 15 banks are functioning with involvement of foreign capital: 4 have 50 - 100 percent of shares, 10 - less than 50 percent, and 1 is operating as a branch of a non-resident bank.

Total number of the credit organizations’ branches is 318, one branch, one representative office and one daughter bank are operating abroad. Non-banking credit organizations have 19 branches.

The Banks’ Authorized Capital Stock has made up 773,4 bln manats as of the mentioned date exceeding the 1 June 2003 figures by 16,6 %.

122,3 bln manats of the amount is the capital of state owned banks, and 651,1 bln manats is that of private ones. Authorized Capital Stock of the banks established with involvement of foreign capital is 267,3 bln. manats that is 34,6% of the total amount of the Authorized Capital Stock.

Authorized Capital Stock of each bank averages, thus, 18 bln. manats.

BANKS’ AUTHORIZED CAPITAL STOCK AVERAGES 18 BLN MANATS

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