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, |
|Annual fee to be paid to FIMSA, thsd. AZN|
|6||International Bank of Azerbaijan||12 223,723||800|
|7||Azərbaycan Industry Bank||787,179||500|
|10||Bank of Baku||549,609||500|
|14||Bank VTB (Azerbaijan)||435,563||300|
|15||Caspian Development Bank||129,295||300|
|19||Xalg Bank||1 668,621||800|
|20||Kapital Bank||3 096,691||800|
|21||Bank Melli Iran-Baku||80,468||300|
|26||National Bank of Pakistan-Baku||11,263||300|
|27||PASHA Bank||3 149,516||800|
|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.