Azerbaijan, Baku, May 22 / Trend , U.Ismayilova/
Reduction the rates of the Central Bank of Azerbaijan (CBA) up to 2 percent is a desirable decision to minimize the impact of world financial and economic crisis, Manager of the Texnika Bank Supervisory Board Etibar Aliyev said.
"Azerbaijan is a country that is actively integrating into the world economy, so the impact of [the global] crisis in the economy is possible", said Aliyev.
According to him, the decision of the Central Bank will affect the credit policy and interest rates of Texnika Bank. Aliyev has not make public the exact figure.
The Central Bank reduces rates by 1 percent to 2 percent of May 25. Upper limit per corridor reduced from 8 to 7 per cent.
Established in 1993, JSC Texnikabank ranks among the fifth leading banks in the banking sector. As of April 1, bank's assets increased by 22.1 percent over the same period last year and amounted to 431.5 million manat, while the total capital grew by 40.3 percent and amounted to 57.8 million manats. Bank's loan portfolio increased by 27.2 percent to 334.8 million manat.
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