Baku. 26 May. REPORT.AZ/ In the future, the volume of bank deposits will be increased in Azerbaijan. Report informs, an analyst of international rating agency Moody's Maria Malyukova said at the forum held in Baku on risk management.
"The outlook on the banking system of Azerbaijan, as last year is negative, however, positive trends outlined due to state aid to larger banks." - said the analyst.
"The negative trends are observed in development of the operating environment. Development depends on oil, so the recession marked in the first quarter. All this has had a negative impact on the purchasing power of the population, budget cuts, the financing of banks. During the reporting period, the loan portfolio has decreased by 9%. Many banks are faced with problem of manat liquidity. This trend will have a negative impact on the growth of the loan portfolio in the banking sector. Problem loans have doubled," said the representative of the agency.
M.Malyukova noted that among the CIS countries the highest rate of foreign currency deposits growth observed in Azerbaijan: "In the future, the volume of bank deposits is expected to increase in Azerbaijan. This will increase the difference between assets and liabilities of banks. Along with this, we see a reduction in the total amount of deposits."
The expert stressed that the level of government support of the banking sector is satisfactory.