Palbank withdraws request for a bank license

Palbank withdraws request for a bank license
# 28 November 2008 15:03 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Palbank (Palmali Holding) has withdrawn its application it previously submitted to the National Bank of Azerbaijan (NBA) for a bank license.
NBA officer for lending institutions Rashad Orujov said the reason why Palbank withdrew its request was unknown.
He also noted that AzFinance Bank has recently submitted a request for a bank license and the request is being considered.
At present there are 45 banks in Azerbaijan (two banks are based in Gandja and Nakhchivan).
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THE OPERATION IS BEING PERFORMED