Two unlicensed banks under liquidation in Azerbaijan

Two unlicensed banks under liquidation in Azerbaijan
# 16 September 2008 13:43 (UTC +04:00)
Baku. Vugar Mustafayev – APA-Economics. Liquidation of two banks Pochtbank and Atlantbank, which licenses were revoked by the National Bank of Azerbaijan, has started, said Rufat Aslanli, Deputy Chair of the National Bank.
He added that a liquidation administrator was appointed by the Azerbaijan Economic Court and the banks’ assets and liabilities are being inventoried.
He said Atlantbank covered AZN 2.63 million of its liabilities.
According to him, the remaining assets will be distributed among shareholders after payables to the government were calculated and paid.
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THE OPERATION IS BEING PERFORMED