Azerbaijani banks should focus on risk management: EBRD
Azerbaijan, Baku, July 8 / Trend , N.Ismayilova/
Azerbaijani banks should pay more attention to risk management, Head of the European Bank for Reconstruction and Development Office in Baku Francis Delaey said.
"Azerbaijani banks should focus on risk management, but not increasing their portfolio," Delaey said.
The global financial crisis did not have a serious impact on the Azerbaijani banking sector compared to neighboring and CIS countries, he said.
"Perhaps, Azerbaijani banks have difficulty to access to resources of the international capital markets, but the situation in Azerbaijan is better than the other CIS countries," he said.
Totally, the EBRD has allocated roughly €800 million to over 90 projects in the country since beginning of its activity in Azerbaijan. Delaey said some $220 million is expected to be invested in the Azerbaijani projects in 2009.
The bank's investments in the country amounted to €81 million in 2008 and €122 million - in 2007.
The EBRD is the bank whose funds are used to develop a market economy and democracy in 30 countries - from the Central Europe to Central Asia. A total of 61 countries and two international organizations are its owners.