Unpromising forecast from Moody`s: Banks in Azerbaijan to be weakened for rising costs

16:41 - 13.04.2020

April 13, Fineko/abc.az. International rating agency Moody's has published a forecast on the banking system of Azerbaijan against the background of the coronavirus pandemic (COVID-19) and oil price falling.

ABC.AZ reports that the organization's forecast notes that the profitability of banks in the country will weaken because of an increase in the costs on debt consolidation and compensation of losses.

"However, the State has large reserves relative to the size of the banking system, and its ability to support this sector, especially the largest banks, will remain strong and stable," the statement says.

 

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