Central Bank reveals number of Azerbaijani banks under liquidation
Baku, Azerbaijan, Feb. 5
By Azad Hasanli - Trend:
Eleven banks are in the process of liquidation in Azerbaijan, according to a report from the Central Bank of Azerbaijan (CBA).
CBA said in the report that as of late 2015, the total number of the banks, which are being liquidated, reached seven.
In particular, Poctbank and Atlantbank, the licenses of which were revoked in 2008, Debutbank (2010), Birlik Bank (2011), Royal Bank (2012), Eurobank and Azerbaijan Credit Bank (2015) are in the process of liquidation.
In addition, since early 2016, the CBA revoked the licenses of seven more banks - Bank of Azerbaijan, Gandja Bank, United Credit Bank, NBCBank, Atra Bank, Caucasus Development Bank and Texnikabank.
Later, however, the CBA reinstated NBCBank's license in connection with its plans on merger. Caucasus Development Bank and Atra Bank, which currently negotiate with other banks in the country, also have similar plans.
Thus, only 11 banks are now in the process of liquidation in Azerbaijan, according to the CBA report.
In total, currently 36 banks operate in the banking market of Azerbaijan, including two banks with state stake [International Bank of Azerbaijan and AzerTurkBank].