Global Deficit of Liquidity not Affect Credit Assets of Azerbaijani Banks: Head of NBA

Business Materials 24 October 2008 16:49 (UTC +04:00)

Azerbaijan, Baku, 24 October /corr. Trend N.Ismaylova / "Problems with the world deficit of liquidity did not actively affect the credit assets of the Azerbaijani banks," Elman Rustamov, Chairman of Board of National Bank of Azerbaijan (NBA), said at the international banking conference of the CIS participating countries 'Financial markets of CIS: development and integration' in Baku.  

Since the beginning of the year, the credit portfolio of the Azerbaijani banks increased by 42%.

"At the same time, as a result of policy by NBA, certain stabilization is observed in the dynamic of credit activity, which serves transfer from the period of strong growth under low credit base to the period of stabilization growth," Rustamov said.

According to him, tension is not observed in the deposit market, the deposits of population continue to increase annually by 50%, which testifies confidence in banking system. The profitableness of the banking sector remains at the high level, which supports competitive ability and possibility of further capitalization of the system. The economic conditions of the functioning of banking system remain favorable both on the micro and macro level as a whole.

"Our task is to firstly improve normative base to react to all possible situation. Generally cardinal changes are obvious in the process of formation of new global financial order. The status of the central banks mostly takes a character of direct participation in the financial system moth in the role of regulator and in the role of market participant," he said.

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