Authoritative structure gives a forecast about banks of Azerbaijan


December 3, Fineko/abc.az. Rating agency Moody's Investors Service has issued a statement in connection with the growth of problem loans in the CIS countries against the background of Covid-19 pandemic.

ABC.AZ reports that the reputable financial institution noted in its statement that losses caused by the pandemic could lead to a reduction in the capital of regional banks by a third.

It was noted that Azerbaijani banks will most quickly create reserves to cover these losses in the CIS.

The agency's experts believe that the losses caused by overdue loans in Azerbaijan will be closed by banks in about six months.