Azerbaijan, Baku, Oct. 23 /Trend, N.Ismayilova/
The Central Bank of Azerbaijan (CBA) in 2012 will focus on the institutional development of the banking sector, CBA Director General Rashad Orujov told reporters on Saturday.
"The priority for the Central Bank in 2012 will be the institutional development. We need a qualitative growth of the market. The banking sector has recovered from the global financial crisis, the growth of banking sector assets for the three quarters was 20 percent. We think that this is a good and controlled dynamics, which also enables to cover all the risks," said Orujov.
Orujov identified three main directions of institutional development for the next year - improving corporate governance, risk management, introducing information technologies in banks.
"In terms of growth, we expect the positive dynamics to continue in 2012. The banks need to continue the recovery process and improve the quality of their loan portfolio," said Orujov.