Bank Of Baku

Elman Rustamov: Several banks given a month to consolidate

Elman Rustamov: Several banks given a month to consolidate
# 04 February 2016 12:32 (UTC +04:00)

The chairman noted that the banks which have lost solvency left the system at the first stage: “Consolidation problems in the financial sector have always been on the focus. The closed banks did not play an important role in the socio-economic system of the country. They would create a problem for financial stability”.

 

Rustamov also noted that several banks have been given a month to consolidate: “This process must end and they must change to a single bank”. 

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THE OPERATION IS BEING PERFORMED