BAKU, Azerbaijan, November 11. The Azerbaijan Deposit Insurance Fund has announced a public auction for the real estate of Texnikabank OJSC (in the liquidation process), Trend reports.
The fund said that the bank's real estate is a non-residential space with an area of 111.5 square meters located at the address: Baku city, Khatai district, Babek Avenue, 12A, Block B, 6th floor, entrance 1. The initial sale price is 245,000 manat ($144,120).
Those interested in participating in the auction (individuals with identification documents or legal entities with founding documents) must be present at the Baku Auction Center on November 30, 2023, at 11:00 (GMT+4).
Additional information:
Phone: (+99455) 206-66-67.
Address: 27 Badamdar settlement, Sabail district, Baku
The license of Texnikabank was revoked by the Central Bank of Azerbaijan on February 2, 2016. The decision to revoke the license was made because the bank's aggregate capital did not meet the Central Bank's minimum requirements [50 million manat or $29.4 million], the capital adequacy ratio was three percent [with a minimum regulator requirement of 10 percent], and the bank failed to fulfill its obligations to creditors.
Texnikabank has operated in Azerbaijan since 1994 (previously known as Rashadbank).
The Azerbaijan Deposit Insurance Fund commenced its operations on August 13, 2007.
