CBA: 20% rise in banking sector assets testifies of its recovery after crisis
Baku, Fineko/abc.az. The Central Bank of Azerbaijan has reported of restoration of the domestic banking sector after the crisis.
CBA general director Rashad Orujev has stated that in principle, the sector has recovered: there is a 20% growth in assets for 9 months.
"Its a good, controlled dynamics, when all risks can be covered completely. We think that positive dynamics will continue in 2012. The banks need to continue recovering and improve the quality of their loan portfolio," Orujev said.
Recovery of the banking sector also identifies the CBA main tasks for 2012.
"In 2012 we will focus on institutional development of banks. We need high-quality growth of the banking sector, and it will be a priority for 2012. In terms of institutional development the priorities will be improvement of corporate governance, risk management and IT systems," Orujev said.
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