5,000 Bank Workers Could Be Sacked in 2015

The International Bank continues to reduce. In general, the IBA will be dismissed 500-600 of 2,500 permanent employees of the bank - the source told Turan in the International Bank of Azerbaijan. Earlier, Finance Minister Samir Sharifov has warned of an impending dismissal of 25-30% of IBA employees.

In June, it has been canceled the license of Azerbaijan Credit Bank, which failed to raise the required capital to total 50 million manat CBA and ensure that obligations to creditors. Earlier, the Central Bank to revoke the license of Eurobank. The plight appeared DəmirBank, in which, according to press reports, in June the number of employees fell by 127 people, reaching 1,079 employees.

In III quarter, compared with the previous quarter of this year, the number of bank branches fell by 5, reaching 758 branches. According to another source Turan, in every branch of the bank is working normally 20-40 people, including the "dead souls". Therefore, the reduction of 5 branches means a reduction of about 150 jobs.

In the III quarter the number of banks in liquidation was seven. In the II quarter this figure was five.

According to the State Statistics Committee, in June-July this year, reduced 10.06% or 3.4 thousand employees of the financial sector of the country. In May, the financial sector comprised 33.8 thousand people, of which 8% or 2.7 thousand employees were employed in the insurance industry. This area of work lost 200 people.

In general, estimates of Turan, at the end of 2015 will lose their jobs around 5000 employees of Azerbaijani banks.

Over the past 25 years, the highest rate of the number of employees in the financial sector was observed in 2014 (30.9 thousand people), the lowest - in 1998 (5.4 thousand people).

According to independent economist Samir Aliyev, staff reductions in banks caused by the devaluation of the manat and phasing out state support of the national currency. This leads to a decrease in bank lending, the volume of deposits of the population, as well as to an increase in the number of problem loans. Since independence, it reached the highest point - 1.4 billion AZN. To a record low (1.3 million) reduced the number of credit bank cards. The banking sector of Azerbaijan's economy can be saved by increasing global oil prices, concluded S. Aliyev. -0-