As of January 1 of 2008, the aggregate volume of the capital of all the banks functioning in Azerbaijan, as compared to December of 2007, increased for 7.3%, making 1098,1mln manats.

Mediamax reports referring Trend that in the course of 2007, the capitalization of the Azerbaijani banks increased for 82%.

All in all, there are 47 banks functioning in the republic, 6 of which have not yet fulfilled the requirements of the National Bank of Azerbaijan (NBA) on securing the minimal volume of capital at the sum of 10mln manats.

This year, the National Bank plans to establish new normative requirements for the capital of the banks, however, it is going to elaborate a strategy on their further capitalization.

In 2007, the number of the Azerbaijani bank, working with profit, increased from 30 to 40.

The total profit of the Azerbaijani banking system increased 2,1 times and made 132,77mln manats.

The number of unprofitable banks, following the results of 2007, decreased from 13 to 5, the aggregate material loss of which made 3,65mln manats, which is 3,6 times less, as compared to the indices of 2006.