Suma Chakrabarti: Devaluation is normal and all banks must be ready for it

Baku: Azerbaijan-based each bank, which cooperates with the European Bank for Reconstruction and Development, meets norms of the Central Bank on capital adequacy, said the EBRD President Suma Chakrabarti at the process conference in Baku.

“As you know, EBRD has equity in the three banks of Azerbaijan. The matter is about AccessBank, Unibank and Demirbank. Along with this, the EBRD allocated loans to 6 banks in Azerbaijan. Note that all these banks meet Central Bank’s norms on capital adequacy. We’ll provide out support to these banks to cope with any risks to be arisen due to exchange rate of manat in the future”, Chakrabarti said.

He noted that the devaluation is normal and all banks must be ready for it.

Chakrabarti noted that EBRD is ready to support capitalization process in the each bank, with which it cooperates.

SOURCE: Azeri Press News Agency