This year Bank Standard, the largest private credit institution of Azerbaijan, intends to renew its procedures and practice.

Javid Guliyev, Bank’s 1st deputy chairman of board, said that for the next few months they will call a foreign expert or an expert group for consultations on risk management system.

“Consultations are to focus mainly on credit risk management,” Guliyev added.

In 2007 Bank Standard had AZN 406.7 million ($481.1 million) of credit portfolio that rose by 186% (AZN 264.4 million or $312.8 million).

“This year we are also planning to renew our procedures and policy on other business directions,” Guliyev said.