Baku, Azerbaijan, Feb. 2
Azerbaijani NBCBank OJSC has restored a license for activity, the bank told Trend Feb. 2.
NBC Bank will render services on all banking transactions.
While commenting on the consolidation, the bank said that at this stage, NBCBank plans to work independently, but it has not excluded this possibility.
The Central Bank of Azerbaijan (CBA) has revoked the license of NBC Bank Jan. 26.
This decision was taken because the total capital of the bank didn't correspond to the CBA minimum requirement of 50 million manats, the CBA said.
This bank couldn't fulfil its obligations to creditors and didn't manage its current activity reliably and prudentially, said the CBA.
NBC Bank was established in December 1992.
Currently, some 36 banks have banking activity licenses in Azerbaijan. The CBA has revoked the licenses of seven banks since early 2016 [Bank of Azerbaijan, Gence Bank, United Credit Bank, NBCBank, Atra Bank and Caucasian Development Bank, Texnika bank].