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IMF: International Bank of Azerbaijan needs rehabilitation

IMF: International Bank of Azerbaijan needs rehabilitation

15 November 2013 14:47 (UTC +04:00)

Along with this, IMF is dissatisfied with the IBAR’s plan on capitalization and the IMF recommends carrying out restructuring at the bank in accordance with the international practice.

Note hat in October, IBAR shareholders have passed a decision on increase of authorized capital to AZN 500 mln during next 4 years. Almarzogi answered the related question vaguely and noted that the talk is about current capitalization level. At the same time, the mission head gave non-specific answer to the question about content and purpose of restructuring, what non-rehabilitative business model in the IBAR. Almarzogi only restated that business model of the bank needs rehabilitation and IBAR should be restructured.

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