CBA revokes Gunay Bank’s license

Agshin Rafigoglu
Post's author

The Central Bank of Azerbaijan revoked the license of Gunay Bank, Report informs, citing CBA.

The reasons for the revocation are that the bank's capital is below the specified requirement of 50 million manats ($29.4 million), the capital adequacy ratio is below 3%, and the Bank is currently unable to carry out its activities reliably and prudently.

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