On the background of the financial crisis Bank of Baku announced the closure of three of its metropolitan branches.
According to the information, the licenses of the branches May 28, Babek and Yeni Guneshli were canceled. According to experts of Turan IA, this is due to the fact that the bank preferred to extend the portfolio of consumer loans issued without collateral. And this has led to an increase in the proportion of problem loans, including overdue and "suspended" ones. Now there is a kind of recovery of the loan portfolio.
Recall that after today's announcement, the number of the bank's branches was reduced from 24 to 21.
JSC Bank of Baku received its banking license in 1994. Its shareholders are three businesses and two individuals. --17D-
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