(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 28. The Central Bank ofAzerbaijan (CBA) has prescribed the Azerbaijan Industry Bank OJSCto take measures to improve internal procedures, Trend reports.
In line with Article 47 of the "On Banks" law, an order wasissued to strengthen OJSC internal procedures, taking intoconsideration the improper calculation of the liquidity coverageratio in the report presented to the CBA by the end ofFebruary.
According to the CBA, the aforementioned infringement poses nothreat to Azerbaijan Industry Bank's financial stability.
To note, Azerbaijan Industry Bank was established in 1996. Itsassets exceeded 409 million manat ($240.59 million), loan portfolio- 256.47 million manat ($150.8 million), liabilities - 634.9million manat ($373.4 million), and capital - 114.3 million manat($67 million) last year.
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