Delivering keynote speech at the event, Chairman of CBA Elman Rustamov firstly reminded Azerbaijan’s financial market and macroeconomic situation in the early 90s. He noted that a number of important and significant steps were taken under leadership of the President during that period. As a result of taken steps, it was possible to establish banking system, reduce inflation, start the realization of oil strategy and etc.
According to his words, at present, stability and development is observed in banking system of Azerbaijan; total assets are above 60% of GDP; current adequate of bank’s capital makes 17%.
CBA Chairman noted that in the coming years it is planned to reach assets of bans 100% of GDP, branch the sources of resource base of banks, which will cause reduction of interest rates, improve the infrastructure of banking sector.
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