Azerbaijan's banks spend almost 1B manats on capitalization
By Trend
In 2017, Azerbaijani banks spent about 900 million manats on capitalization, Azerbaijan’s Financial Markets Supervision Chamber said.
In 2016—2017, 1.2 billion manats were spent on capitalization.
The topic was discussed during the Chamber session chaired by Executive Director Ibrahim Alishov. The session participants discussed the work to be carried out within the framework of the country's strategic roadmaps.
Considering the banking sector of the country, reformation of the International Bank of Azerbaijan, the largest bank of the country, is almost finished. Its problem assets have been handed over to the non-bank credit organization Aqrarkredit and restructuring of the foreign obligations is almost complete.
The participants also discussed the Chamber’s Operational Plan 2018 on realization of measures reflected in the strategic roadmaps. The measures provide for promotion of new tools in the insurance market, modernization of the financial markets’ regulatory framework and preparation of a plan on transition to the Basel 2 standards etc.
(1.7001 manats = 1 USD on Feb. 21)
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