Baku, Azerbaijan, Apr. 18
By Azad Hasanli – Trend:
Azerbaijan’s Caspian Development Bank OJSC will be liquidated due to reorganization and merge with the country’s AtaBank OJSC, said the message posted on the website of AtaBank OJSC Apr. 18.
In accordance with the decision made at the general shareholders’ meeting of these banks, Dayanat Guliyev will serve as acting chairman of AtaBank’s board, and Farah Mammadova will be acting chairperson of the bank’s supervisory board.
“PwC multinational accounting firm was attracted to evaluate the assets of Caspian Development Bank OJSC and AtaBank OJSC due to their reorganization, and an initial agreement was reached with this firm,” the message said.
At the same time, both banks, until their merger is officially registered, will continue to perform their duties under civil contracts concluded with all counterparties, separately.
AtaBank OJSC was created in 1993.
Caspian Development Bank OJSC was founded in 1988.