Azerbaijan, Baku, Apr. 13 / Trend N.Ismayilova /
Azerbaijani banks are intensifying their branch network optimization activities, the Central Bank of Azerbaijan's Credit Organizations Supervision Department Director Rashad Orujov said.
"Banks are actively involved in optimizing branch networks and many have started to consider this issue," he said. "Since optimization requires a cautious approach, the question is how this will affect the bank's activities. This must be seriously studied."
According to the bank official, the CBA is not restricting the branch network optimization program's timing.
The main objective in strengthening the CBA's control over bank branch activities is to improve their financial discipline. As branches have their own balance sheets, daily operating indicators are presented to the bank's head office online. The head office prepares a consolidated balance sheet. Accordingly, branch administrators are responsible for all financial transactions. The CBA believes that attestations must ensure their managerial competencies.
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