Scores of Azeri banks ‘may face bankruptcy’
Some banks in Azerbaijan are expected to face bankruptcy this
year, the country’s central banker predicts.
Elman Rustamov, chairman of the Central Bank steering board, told
the press that this possibility is due to the financial crisis.
"The world financial crisis is not over yet, and it has an impact
on Azerbaijan as well," he said.
Rustamov noted, however, that the "stress-tests" conducted by the
Central Bank enable a conclusion that Azerbaijan’s banking sector
will be stable in 2010 overall.
"The situation is currently under control. Both capitalization and
liquidity levels of banks are quite high," Rustamov added.*
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