License of another Azerbaijani bank cancelled
Baku, Azerbaijan, July 15
By Azad Hasanli - Trend:
The Central Bank of Azerbaijan (CBA) has cancelled the license of Azerbaijan Credit Bank JSC, CBA said July 15.
The decision adopted by the CBA board will enter into force from July 16, 2015.
"The license of Azerbaijan Credit Bank was cancelled as the bank failed to fulfill the CBA requirement on minimum total capital [50 million Azerbaijani manats], as well as its obligations to the creditors and CBA's written prescriptions," said the bank.
The official exchange rate July 15 is 1.0492 AZN/USD.
Earlier, CBA cancelled the license of EuroBank JSC.
Edited by SI
Follow the author on Twitter: @AzadHasanli