Baku, Azerbaijan, July 3
By Anvar Mammadov – Trend:
Caspian Development Bank due to its consolidation with AtaBank was excluded from the list of authorized banks of the Azerbaijan Mortgage Fund, reads a message on the Fund’s website.
Thus, the number of the Azerbaijan Mortgage Fund’s authorized banks decreased to 24.
The merger of AtaBank and Caspian Development Bank was announced on April 18. As it was reported, Caspian Development Bank will be liquidated and its assets will be transferred to AtaBank.
After the consolidation of the two banks, 31 banks operate in Azerbaijan, including two state-owned ones.