Baku, Azerbaijan, Feb. 23
By Anvar Mammadov - Trend:
Azerbaijani Ganjabank JSCB has been declared bankrupt by the decision of the Baku Administrative Economic Court No.1 from February 15, 2016, said the message released by the liquidator Feb. 23.
In accordance with the decision of the court, Azerbaijan International Consulting Company has been appointed the liquidator of the bank.
The bank's creditors have to submit their claims within 60 days to the Gandjabank's liquidator.
The Central Bank of Azerbaijan (CBA) revoked the license of Ganjabank JSCB Jan. 22, 2016.
This decision was made because the total capital of the bank didn't correspond to the CBA's minimum requirement of 50 million manats.
The bank also couldn't fulfill its obligations to creditors.
Ganjabank JSCB has been operating in Azerbaijan since 1994.
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