CBAR will assist the banks facing problems

Elman Rustamov: Banks should not be left without help in such a situation

Baku. 1 April. REPORT.AZ/ Central Bank of Azerbaijan (CBA) will provide assistance to commercial banks facing problems after the devaluation of the national currency.Report informs, it was stated by the Chairman of CBA Elman Rustamov: Problems of all banks are under control. If necessary, we will provide them with assistance.

E. Rustamov noted that banks should not be left without help in this situation. Chairman of the CBA also urged banks to make concessions to customers.

We recommended banks to restructure loans - to extend their terms, lower interest rates, which they already perform.It is in their own interests, otherwise these loans will become problematic.If you issue loans at 15-20%, it means that they have sufficient yield, therefore, reduction in the rate of 1-2%, extension possible.The central bank constantly monitors this area, analyzes the system, and we see that this process is already underway.Everyone has to pay the loan in accordance with treaty obligations , said the chief banker.

E. Rustamov added that the expected return of the State Oil Fund of the currency market and the implementation of transfers to the budget.

He also noted that the country will increase the number of post offices providing banking services: Now there are thousands of these offices in the country, but another 2-3 thousand branches are planned to open.

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