The clean-up of the banking sector has progressed, Fitch Ratings reported.
'The restructuring of the country's largest bank, International Bank of Azerbaijan (IBA), has neared completion, with the capital position and asset quality restored. The next steps will involve the closing of a significant net open FX position and privatisation of the bank. The rest of the banking sector remains very vulnerable, but Fitch expects credit growth to start recovering in 2018 after a dramatic fall over the past two years',the agency said.
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