Central Bank closes down EvroBank for “shortcomings”
13.07.2015 17:00
The Central Bank in Baku says it revoked the license of EvroBank for a number of shortcomings including failure to increase its minimum statutory capital to 50 million manat as required by law.
The Central Bank also imposed limitations on the activities of Azerbaijan Kredit Banki over a number of shortcomings such as imprudent management and capitalization, it said.
The measures are aimed at reducing risks and maintaining trust in the banking sector, the Central Bank said.
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