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

    The amount estimated on basis of 2016 financial summary© 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. 

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