Central Bank of the Republic of Azerbaijan (CBA) has annuled banking license of two banks operating in the country, on May 12, APA-Economics reports citing CBA.
The licenses of two of those banks - “AGBank” OJSC and “NBCBank” OJSC have been terminated.
Note that Temporary administrators have been appointed to the ‘Atabank’ OJSC, ‘AGBank’ OJSC, the ‘NBCBank’ OJSC and the ‘Amrahbank’ OJSC by relevant resolutions of the Management Board of the Central Bank of the Republic of Azerbaijan dated 27 April 2020.
All powers on the management of the above banks, including powers of general meetings of shareholders have transferred to the temporary administrators.
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