Azerbaijani Central Bank adopts decision on two banks
Central Bank of Azerbaijan (CBA) cancelled the license of EuroBank JSC and appointed an interim administrator at Azerbaijan Credit Bank JSC. This decision was made during the board meeting of the bank. The activities of the Central Bank are aimed at reducing risks in the banking sector, maintaining the trust and thus the expanding the financial intermediation.
License of another Azerbaijani bank cancelled
The Central Bank of Azerbaijan (CBA) cancelled the license of Azerbaijan Credit Bank JSC.
"The license of Azerbaijan Credit Bank was cancelled as the bank failed to fulfill the CBA requirement on minimum total capital [50 million Azerbaijani manats], as well as its obligations to the creditors and CBA's written prescriptions," said the message.