Azerbaijan Central Bank to intensify efforts to reduce of problem assets in 2010

Business Materials 26 February 2010 17:07 (UTC +04:00)

Azerbaijan, Baku, Feb. 26 / Trend U.Ismayilova /

In 2010, the Central Bank of Azerbaijan (CBA) would further strengthen its activity in reducing problem assets, including overdue loans, CBA Managing Board First Deputy Chairman Alim Guliyev said at a workshop held by the IFC on the topic 'Sale of problem assets to encourage the issuance of new loans'.

"The CBA has undertaken actions to improve the quality of problem assets, and the bank's preventive measures were aimed at suspending credit growth, assets and improve risk management system," Guliyev said.

The CBA also conducts analysis of problem assets.

"The priority of the CBA actions today is to preserve the country's financial stability in 2010, which requires strengthening actions for solving the problem with problem assets," Guliyev said.

The workshop was organized by the International Finance Corporation, PriceWaterHouseCoopers, and the Azerbaijan Association of Professional Risk Managers. It was attended by over 30 representatives from financial institutions of the country.

Do you have any feedback? Contact our journalist at: [email protected]