BAKU, Azerbaijan, July
31. Azerbaijan’s Central Bank (CBA) has revoked the
banking license of Bank BTB OJSC and issued a license to its legal
successor, T-Kredit Non-Bank Credit Organization LLC, following the
bank’s reorganization.
According to the statement of CBA, the decision was approved by
its Management Board on July 27, 2026, in accordance with the Law
on Banks, the Rules on the Reorganization of Banks, and the Law on
Non-Bank Credit Organizations.
As previously reported, the Central Bank’s Management Board
granted preliminary approval on March 5, 2026, for the
reorganization of Bank BTB into a non-bank credit organization at
the bank’s request.
As part of the reorganization, a plan for fulfilling the bank’s
obligations to depositors and other creditors was approved, and
creditors were duly notified. Bank BTB and the International Bank
of Azerbaijan (ABB) also signed an Asset and Liability Transfer
Agreement, under which all of Bank BTB’s assets and liabilities
were successfully transferred to ABB.
According to the Central Bank, all term and demand deposits held
by Bank BTB customers were transferred to ABB without any changes
to their terms and conditions, ensuring uninterrupted access to
customers’ funds.
The transfer of the bank’s loan portfolio has also been
completed. All rights related to loans and other obligations owed
to Bank BTB were transferred to ABB while maintaining the existing
contractual terms, ensuring uninterrupted servicing of
borrowers.
The Central Bank said the completion of these procedures marks
the successful conclusion of the process of revoking Bank BTB’s
banking license and transforming it into T-Kredit Non-Bank Credit
Organization LLC.
T-Kredit Non-Bank Credit Organization LLC will operate from 9
Nigar Rafibeyli Street, Baku.
