EBRD: IBA privatization process should not be delayed

Baku. 29 November. REPORT.AZ/ Significant steps should be taken to finalize restructuring in Azerbaijan’s banking sector, Report informs citing the European Bank for Reconstruction and Development.

According to the bank, privatization of the International Bank of Azerbaijan (IBA) remains one of key priorities for 2019 and this process should not be delayed.

According to analysts, the issue of non-performing loans must be solved and capital deficiency of some banks must be eliminated.

"For the newly-established structures to fulfil their functions, institutional potential should be developed. Experience and reliable operation frame has not been formed in the newly-established state bodies yet. Therefore, steps should be taken for effectiveness and transparency of these bodies," the bank said.