Chamber: Bank Standard does not have sufficient resources

Baku. 3 May. REPORT.AZ/ Financial Market Control Chamber has introduced a temporary administration in Bank Standard CJSC. Report informs, Chairman of the Board of Directors of the Chamber, Rufat Aslanli said.

R.Aslanli noted that the bank's liquidity declined due to deterioration in asset quality.

"The Chamber has appointed a check in the bank. According to the initial assumptions, the bank does not have sufficient resources to eliminate the problems faced by the shareholders. The Chamber made a relevant decision. The government has allocated funds to prevent acute liquidity problems. The amount was transferred to the bank's account."