Liquidation of Azerbaijan’s Dekabank to end soon

Business Materials 30 May 2017 19:46 (UTC +04:00)

Baku, Azerbaijan, May 30

By Azad Hasanli – Trend:

Liquidation of Azerbaijan’s Dekabank will be completed in the coming days, Chairman of the Board of Directors of Financial Market Supervisory Authority Rufat Aslanli told reporters in Baku May 30.

He noted that the bank’s major liabilities have already been repaid.

“At the same time, we expect the liquidation of another bank, the Caucasus Development Bank, to be completed in the coming weeks,” Aslanli said.

Dekabank’s license was revoked July 21, 2016 due to the inconsistency of its total capital with the minimum requirement of the Azerbaijani Central Bank (CBA) of 50 million manats, non-fulfillment of obligations to creditors and CBA’s instructions, etc.