OREANDA-NEWS. September 06, 2012. The banking sector has almost coped with the new standard requirement the Central Bank of Azerbaijan brings into force for existing banks from 1 January 2014.

The CBA informs that as of 1 August the overall capital of the country’s banks reached AZN 2.1 bn against AZN 2.109 bn by July and AZN 2.155 bn (absolute record) by May 2012.

As a result, average overall capital of the domestic bank for July increased from AZN 47.9 million up to AZN 49.5 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. Royal Bank’s bankruptcy on 25 July did not tell on the dynamics.