Bank Of Baku

CBA chairman calls weak and problem banks to be consolidated

CBA chairman calls weak and problem banks to be consolidated
# 01 December 2010 12:08 (UTC +04:00)
According to him, he followed the processes in Kautharbank and Debutbank for a month.

He says these banks have lost their liquidity and ability: “That’s why these banks were not obtained license in accordance to the legislation”.

He also noted that, it will be taken every measure on population’s deposit in the banks which licenses were abolished: “Anyway, the population had a minimum deposit in those banks”.

He also noted that, it was impossible to change the banks to non-banking credit organizations due to having important loan liabilities: “The world practice means that, weak and problem banks are put aside this system. I call the weak and problem banks to be consolidated.”
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