According to her, removal of inactive loans from the balance of the bank and improvement of assets quality is one of the main duties of the government: “This process will continue by the year-end however, it’s not worth awaiting the privatization of the International Bank of Azerbaijan by the end of this year”.
The Assistant Vice President reminded that AZN 10 billion bad assets were transferred from IBA to Agrarcredit in 2015-16: “More AZN 3 billion is planned to be transferred this year”.
So, under the exchange rate of today, AZN 5.173 billion of bad assets are planned to be transferred from the bank this year. Totally the transfer of bad assets will reach AZN 15.2 billion by the end of 2017.
* 1 USD = 1.7244 AZN