Information by the Central Bank of the Republic of Azerbaijan

02-06-2020

1 June 2020, Baku: The Central Bank of the Republic of Azerbaijan is informing that certain mass media outlets have made inaccurate coverage of the information uttered at the joint press-conference with the Deposit Insurance Fund on 01.06.2020.

Central Bank informs that, banks should deliver to the supervisory authority and publish their audited financial statements within five months at the latest after the end of a fiscal year in accordance with the legislation and regulations. Accordingly, most banks have published their relevant financial statements on their official websites.

However, due to challenges triggered by the coronavirus (COVID-19) pandemic, the ‘Rabita Bank’ OJSC and the ‘Access Bank’ OJSC applied to the Central Bank, requested a delay with respect to disclosure of the external audit report and informed that relevant reports would be published in June. Nevertheless, this information uttered at the press-conference was distorted and disseminated as if the mentioned banks have problems with capital. The Central Bank of the Republic of Azerbaijan is stating that the said information does not reflect the truth.