Rufat Aslanli announces expectations from restructuring plan of IBA

“If International Bank of Azerbaijan’s liabilities are restructured, the bank will significantly be normalized”, Chairman of FIMSA Board of Directors Rufat Aslanli said at the Conference on “Economic reforms: the achieved results and recommendations” held by joint organization of Center for Analyses of Economic Reforms and Communications and American Chamber of Commerce in Azerbaijan (AmCham).

“Last week, the restructuring plan was submitted to the club of foreign creditors. This plan is supported by the state. If the bank’s liabilities are restructured, it will significantly be normalized. The matter is about both reach of capital the comfort level and sufficiently provision of liquidity. I’d especially like to underline that if the plan works, expenditures on bank’s liabilities will be provided by revenues from the assets. This will essentially increase the bank’s value before the privatization”, he said. APA