Several banks given a month to consolidate -Elman Rustamov

  04 February 2016    Read: 1062
Several banks given a month to consolidate -Elman Rustamov
"Weak banks must be withdrawn from the system", chairman of the Central Bank of Azerbaijan Elman Rustamov said.
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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