Property of 2 banks liquidated in Azerbaijan to be put up for auction
Baku, Azerbaijan, Jan. 11
By Anvar Mammadov – Trend:
Azerbaijan Deposit Insurance Fund (ADIF) will hold a regular auction on leasing the property of two liquidated banks on Feb. 13, the ADIF said in a message posted on its website.
Two non-residential premises belonging to Texnikabank OJSC, and one non-residential premise belonging to United Credit Bank OJSC will be put up for the auction.
The starting monthly cost of renting non-residential premises of Texnikabank is 1,250 manats and 1,650 manats, and the starting monthly cost of renting an office of United Credit Bank located in Masalli city is 4,550 manats.
Licenses of the two banks were revoked in 2016 as they didn’t meet the minimum capital requirement of the Central Bank of Azerbaijan (50 million manats) and didn’t fulfill obligations to creditors.
The ADIF has been operating since August 13, 2007.
(1.7001 manats = 1 USD on Jan. 11)