Azerbaijan puts property of two liquidated banks for auction

By  Trend

Properties of two banks liquidated in Azerbaijan will be put up for auction, the Azerbaijan Deposit Insurance Fund (ADIF) said in a message posted on its website.

Two non-residential premises and one apartment belonging to Texnikabank as well as an apartment on the balance sheet of Bank Standard will be put up for auction.

The monthly rental fee is as follows: for the non-residential premises - from 950 manats and 1,000 manats, for the apartment owned by Texnikabank - 900 manats, for the apartment on the balance sheet of Bank Standard – 1,800 manats.

Licenses of both banks were revoked in 2016 as they didn’t meet the minimum capital requirement of the Central Bank of Azerbaijan (50 million manats) and did not fulfill obligations to creditors.

The Azerbaijan Deposit Insurance Fund has been operating since August 13, 2007.

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