CBA allocates AZN 45M loan to TuranBank, blocks its nostro account

CBA allocates AZN 45M loan to TuranBank, blocks its nostro account
# 01 June 2016 12:47 (UTC +04:00)

Baku. Yegane Lachinzade - APA-Economics. Central Bank of Azerbaijan has allocated AZN 45 mln refinancing loans to TuranBank in 2015, APA-Economics reports citing to bank’s audit statement.

The loan was allocated to the bank at an interest rate of 3.6%. Instead, the CBA blocked bank’s USD denominated nostro account in amount of $47.6 mln (AZN 74,227,000).

The loans are repayable to CBA between the years 2016 and 2018.

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