Azerbaijani Central Bank makes official statement on information about banks' closing
Azerbaijan, Baku, March 11 / Trend /
The media has recently spread the news about closing, merger and bankruptcy of banks. The Central Bank of Azerbaijan made an official statement.
As a result of actions taken by the bank, the country's financial system was prepared for the financial crisis. Financial stability of the banking sector was maintained. The banking system in the global financial crisis has kept the pace of development thanks to the effective fulfillment of its functions.
Azerbaijani banks continue to work in normal mode. There are no risks that could have a negative impact on their financial position and power.
Press-service of the bank reiterated that the issue on closing of the banks today is not discussed. There is no decision in this regard.
About 46 banks, 23 with foreign capital operate in Azerbaijan. About 42 banks are members of the Azerbaijan Deposit Insurance Fund.
Banks have shown growth on all financial indices as of 2009. Assets for the period increased by 13.5 percent, credit portfolio - by 17.4 percent, population's deposits - by 22,5 percent. The total capital of banks increased by 17.6 percent.