Azerbaijan, Baku, 8 April / Trend corr. I.Khalilova / In 2008, National Bank of Azerbaijan (NBA) expects decrease in the growth rate, as compared to previous year, in the banking sector of the country, Rufat Aslanli, NBA Deputy Manager, stated in the 5th Caspian International conference and 'Banks and Finances exhibition'.
"NBA's policy is to extract more development from the increase and less from the risks," Aslanli said.
The banking system of Azerbaijan has a dynamic development and it continues the introduction of new financial tools in the market. Despite that the banking index keeps stable rate due to high dynamic and active integration to foreign financial markets, the sensitiveness to foreign and domestic risks is also increasing.
NBA calls upon the banking sector to hold calculated market relations to provide long-term and continues financial stability. NBA and banking sector have been holding intensive dialogue with each other since 2007.
"We call upon the bank policy of growth and increase of market share to manage the risks in accordance with their potential," Aslanli said.
NBA is strengthening prudential regulation norms to upgrade work on credits, mortgage securities and risks management. In 2008 NBA is expected to decrease the rates in the banking sector.
In 2007, the Azerbaijani bank system reached the highest growth rate for recent four years as a result of active foreign holdings and attraction of share capital to the country. During the mentioned period, bank assets increased by 72%, obligations - by 59% and deposits - by 48%.
As for 1 January 2008, the joint banking assets made up AZN, 6725,7mln, credit investments - AZN 4,553,7mln, population deposits - AZN1,468,4mln and joint bank capitals - AZN1,009,1mln.
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