Bank Of Baku

Central Bank of Azerbaijan closes YapıKredi Bank Azerbaijan’s branch

Central Bank of Azerbaijan closes YapıKredi Bank Azerbaijan’s branch
# 29 July 2009 15:50 (UTC +04:00)
Baku. Elnur Guseynguluev - APA-Economics. The Central Bank of Azerbaijan has revoked the license of a branch named Elmler Akademiyasi of YapıKredi Bank Azerbaijan.

The license dated 23 February 2007 was cancelled on 21 July this year, said the Central Bank.

According to the decision of the general meeting of shareholders of YapıKredi Bank Azerbaijan, after receiving approval from the central bank, the branch will operate as a office.

YapıKredi Bank Azerbaijan, owned by Turkey’s YapıKredi Bank (80%) and the International Finance Corporation (20%), has been in operation since 2000.
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