Today.Az » Business » Central Bank of Azerbaijan cancels licence of country's two banks
01 December 2010 [14:55] - Today.Az
Two banks' licences have been abolished in accordance with the decision of Board of Directors of the Central Bank of Azerbaijan. According to APA-ECONOMICS, the CBA has abolished the licences of Debutbank and Kautharbank due to violation of banking legislation, not implementation of management and operation proxy and prudentially, not observing the CBA’s regular and durable instructions.
According to the same decision, Debutbank and Kautharbank have been appointed temporary administrators to the join-stock companies.
Remind that, Kautharbank has been in operation since 1989. The bank operated 2 branches, 1 ATMs and 25 staffs across the country.
Debutbank has been in existence since 1994. The bank operated 7 branches.
/APA/
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