Mortgage portfolios of two revoked banks in Azerbaijan delivered to "Bank BTB"

These banks are Zaminbank and Kredobank

Baku. 1 August. REPORT.AZ/ Mortgage portfolios of two banks, licenses of which were eliminated by the Financial Markets Control Chamber and became the lending organizations of the Azerbaijani Mortgage Fund (AMF) delivered to "Bank BTB" OJSC. These banks are "Zaminbank" and "Kredobank".

According to the information released by the AMF at the end of the second quarter of this year, there are 1631 active mortgage loans in "Zaminbank" and 127 in "KredoBank". Total amount of the loans is about 60 million AZN.

Notably, mortgage portfolio of "Royal Bank", which eliminated a few years ago and "Ganjabank" that suspended at the beginning of this year were transferred to “Zaminbank". Now the portfolios of above-mentioned banks, as well "KredoBank" will be managed by "Bank BTB".

A special general meeting of shareholders of "Bank BTB" OJSC held on July 25 has decided to approve the transaction. According to the requirement of Article 99.3 of the Civil Code, the decision has been made public.

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