Baku Administrative Economic Court №1 officially recognized the bankruptcy of «Evrobank», announcing the beginning of the procedure , and appointed a liquidator - OOO «Azerbaijan International Consulting Company».
The report of this authorized structure reads that the , Evrobank did not fulfill the requirements of the Central Bank imposed a minimum level of total capital of $50 million manat. Last May, the leadership of the now ex-credit organizations was given instruction on the market capitalization, and gave a time to address the shortcomings in the work, but the Evrobank failed to fulfill them. That is why the Central Bank finally decided to cancel the license of the bank.
The JSC «Evrobank» (reorganized Azinvestbank), operated from December 1992, had one branch, 11 million manat authorized capital and 40 million manat of loan portfolio; it worked primarily with corporate clients. --17D—
Economics
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