Azerbaijani banks will pay AZN 9 mln fees to FIMSA in 2017 - UPDATED

April 20, 2017 11:41

Report

Baku. 20 April. REPORT.AZ/ Amount of fees to be paid by commercial banks operating in Azerbaijan to Financial Market Supervisory Authority (FIMSA) this year will be determined based on their financial indicators reflected in summary 2016.

Advisor of the Chairman of FIMSA Board of Directors Rufat Abbasov told Report.

Notably, according to regulations introduced yesterday, banks with assets over AZN 1 bln will pay to the FIMSA AZN 800 thousand, those with assets between AZN 500 mln and AZN 1 bln - AZN 500 thousand and those with assets under AZN 500 mln – AZN 300 thousand as an annual fee.

By December 31, 2016, 5 of 32 local banks had assets over AZN 1 bln, 8 - between AZN 500 mln and AZN 1 bln, 19 - under AZN 500 mln. Azerbaijani banks have to pay total AZN 13.7 mln of annual fee upon this estimation.

No.	Commercial banks	Value of bank assets, mln. AZN (31.12.2016)	Annual fee to be paid to FIMSA, thsd. AZN
1	Accessbank	1 058,872	800
2	AFB Bank	300,446	300
3	AGBank	520,003	500
4	Amrahbank	256,224	300
5	Atabank	472,542	300
6	International Bank of Azerbaijan	12 223,723	800
7	Azərbaycan Industry Bank	787,179	500
8	Azer-Turk Bank	469,550	300
9	Bank Eurasia	143,417	300
10	Bank of Baku	549,609	500
11	Bank BTB	241,508	300
12	Bank Respublika	912,117	500
13	Silkway Bank	403,993	300
14	Bank VTB (Azerbaijan)	435,563	300
15	Caspian Development Bank	129,295	300
16	Demirbank	538,829	500
17	Expressbank	286,822	300
18	Gunaybank	118,810	300
19	Xalg Bank	1 668,621	800
20	Kapital Bank	3 096,691	800
21	Bank Melli Iran-Baku	80,468	300
22	Muganbank	470,824	300
23	Naxchivanbank	126,407	300
24	NBC Bank	158,970	300
25	Nikoil Bank	439,726	300
26	National Bank of Pakistan-Baku	11,263	300
27	PASHA Bank	3 149,516	800
28	Rabitabank	522,288	500
29	Turanbank	528,222	500
30	Unibank	716,522	500
31	YapiKredi Bank Azerbaijan	447,862	300
32	Ziraat Bank Azerbaijan	132,196	300
Total	31 398,080	13 700

However, R. Abbasov told Report that as the regulations entered into force on April 19, 2017, the banks will pay fees to the Chamber for next 8 months of the year, which make about AZN 9.1 mln.