ECONOMY
BANKS AUTHORIZED CAPITAL STOCK ON RISE
41 credit organizations are licensed to attract population’s savings, 42 - to carry out foreign currency operations, 1 bank operate with precious metals, 27 ones - with credit cards.
43 banks has functioned in Azerbaijan as of May 1,. 16 banks have foreign share, foreign capital ranges from 50 to 100 percent in 4 of them, 11 banks have less than 50 percent of foreign capital, 1 bank functions as a branch of non-resident banks.
Altogether, credit organizations have 318 branches - one branch, one representation office and one subsidiary operate abroad. Non-banking credit organizations have 19 branches.
The authorized capital stock of all the banks amounted 732,5 billion manats by May 1, and it is by 11,7 percent higher than that of the same period last year.
81 billion manats of the total amount fall to the share of state banks while 651,5 billion manats - to private banks. Authorized capital stock of foreign-owned banks totaled 277,3 billion manats making up 37,9 percent of the total volume of the authorized fund.
On average, each bank possesses 17,3 billion manats of the total authorized capital stock.