Baku, Azerbaijan, Dec. 22
By Maksim Tsurkov - Trend:
The recent change in the management of a number of Azerbaijani banks is very positive for the banking sector, the executive director of Azerbaijan's Unibank, Jalal Gasimov, told Trend.
He said the banks in Azerbaijan are becoming more technological and competitive, which contributes to the growth of a need for new personnel.
"Considering how many clients are served by our banks, the competition in this sector is very high. What any other industry in Azerbaijan has so many players? Banking services are demanded by the population, and as a result, the banks start to introduce innovative products," Gasimov said.
At the same time, he said, the innovations are needed to reduce the cost of services.
"When the competition grows, the price of your product drops," Gasimov said. "Accordingly, it is necessary to reduce your expenses in order to improve the margin."
He added that the introduction of new technologies forces to bring young personnel to the management, adding, "the older the person is, the less he is open to innovations."
Gasimov added that bringing new personnel is correct, taking into account where Azerbaijan's banking sector is moving as a whole.
He said the management in many of the country's banks hasn't changed for a long time.
"The competition in the country's banking sector has intensified very much this year, at least in the area of consumer lending it is several times higher than before," Gasimov said. "This causes a need for more ambitious, flexible, and open staff. Perhaps this is why there are certain changes at the level of top and mid level managers in banks."
Among the banks, which have undergone a change in management recently, there are Azerbaijan Kredit Banki JSC, Bank of Azerbaijan JSC, AzerTurkbank JSC, Bank Technique JSC, and others.
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