IMF: Several more banks may close in Azerbaijan

Baku. 5 May. REPORT.AZ/ The process of acquiring problem loans of the banking sector by government and additional capitalization of this sector continues in Azerbaijan.

Report informs citing the IMF’s Middle East and Central Asia Regional Economic Outlook, after the preparation of new capitalization plans, several more commercial banks may be closed.

Notably, the government of Azerbaijan continues to clear problematic assets and improve the International Bank of Azerbaijan (IBA).

Also it is to be recalled that in 2016 licenses of 11 commercial banks were canceled in Azerbaijan.