Several commercial banks in Azerbaijan eye consolidation

At present, some commercial banks, operating in Azerbaijan, are conducting talks on consolidation of assets, director general of CBA Reshad Orujov told APA.

‘We know that currently, several banks conduct talks on consolidation. We expected some concrete steps in this sphere. It is early to say something, but the works are underway and we are waiting for the results. Besides, there will be serious changes in banking sector of Azerbaijan by the beginning of 2014 in relation to the demand against the minimum of banks’ total capital’, Orujov noted .

Remind that, according to CBA’s decision, total capital of commercial banks, operating in Azerbaijan, must be reached at least AZN 50 mln till January 1, 2014. 


/APA/