AZERBAIJAN TO REDUCE NUMBER OF BANKS

Baku, March 7 (AzerTAc). The presence of 46 banks is too much for the Azerbaijan`s economy and, therefore, the banking sector needs no more than 15-20 banks, said Deputy Chairman of the Central Bank of Azerbaijan Alim Guliyev.
According to him, the central bank plans to initiate measures to consolidate the banking system. This process can take a few years.