CBA official: No risky situation in Azerbaijan's banks

Currently, there is no risky situation related to any bank in Azerbaijan, Executive Director of the Central Bank of Azerbaijan (CBA) Shahin Mahmudzada said, Report informs.

"We categorize banks according to their risk profile, and within the framework of risk assessment, we establish a tighter supervision regime for those banks that require a more specific approach. But this does not mean that any bank's situation is bad. All information is transparent.

We require banks to publish their financial reports on their websites. Our required standards are known, and if you compare those standards with the information disclosed by the banks, you will see that currently there is no critical situation in any bank. It's just that for those where these standards are close to the limit, we tighten supervision to prevent deterioration. Disclosing the names of those banks is our internal supervisory decision. The CBA knows well who needs to be supervised more closely," he noted.