Baku. Musa Ahmadov - APA-Economics. “Credit and investment potential of Azerbaijan’s banking sector doubled during past two and a half years”, said the Director-General of the Central Bank of Azerbaijan Rashad Orujov at the 7th International Banking Conference held in Baku under the support of CIS Financial and Banking Council, International Bank of Azerbaijan (IBA) and CIS Executive Committee.
According to him, after decision passed in July, 2012 on increase of minimum capital of Azerbaijan-based banks, credit and investment potential of banking sector doubled: “The demand on increase of minimum capital from AZN 10 mln to AZN 50 mln provided high qualitative level of the sector. Increase of capital led to improvement of quality and increase of competition in the market. Along with increase of the capital, the CBA also made strict its demand on corporate management and risk-management in the b banks”.
He added that the banks forming 99% of assets in the banking sector meet demand on total capital.
CBA official says since early 2014, the assets in banking sector have increased 14%, provision of crediting – 15%, deposits – 9%, overdue credits made 5.6%.
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