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Central Bank of Azerbaijan to bring up consolidation of weak banks

Central Bank of Azerbaijan to bring up consolidation of weak banks

17 December 2009 16:52 (UTC +04:00)

Baku. Elnur Guseynguluev - APA-ECONOMICS. The Central Bank of Azerbaijan will bring up the issue of consolidation of weak banks next year, said Alim Guliyev, the first deputy chairman of the CBA.

According to him, the priority in regulations next year will be the consolidation of banks whose capitalization does not meet the requirements.

"These banks do not comply with the mandatory capital requirements and do not have a strong position in the banking sector. The banks would increase their capital by merger. Otherwise, they will be converted to non-bank lending institutions,â€ he added.

There are 46 banks in Azerbaijan. Debut Bank, EvroBank, Kafkaz Development Bank etc. fail to meet the capital adequacy requirements.

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