The first victims of the "banking crisis"

The Central Bank of Azerbaijan (CBA) has revoked the license of "EvroBank". In another bank - OJSC "Azerbaijan Kredit Bank" temporary administrator was appointed. These decisions were taken on July 13 board meeting of the CBA. According to the CBA, previously because of not meeting the requirement of the National Bank for the minimum total capital set at 50 million manat, the activity "EvroBank" was limited.

"EvroBank" did not eliminate the disadvantages associated with the capitalization and other issues. In this regard, a ban was imposed on deposits, loans and accounts. The bank's share "EvroBank" in the banking market is negligible. Currently, the Bank has no deposits, CBA. National Bank has limited the activities of the  "Azerbaijan Credit Bankı."

This decision was made due to not following the requirements of the Central Bank, including the requirements for the minimum total capital. "In this regard, the activities of "Azerbaijan Credit Bank" limited. However, the share of deposits in the bank is negligible and for the fulfillment of obligations to depositors the bank has enough liquidity," said the CBA.  New  Interim administration was appointed in the  "Azerbaijan Credit Bank."

 After a sharp devaluation of the manat  on 21 February, 2015, when the national currency has depreciated against the dollar by 34 percent, and the country's banking sector faced serious problems and the growth of non-paid credits. -06D—