CBAR: License of NBC Bank restored

Baku. 2 February. REPORT.AZ/ According to the decision of the Central Bank of Azerbaijan Republic (CBAR) on February 1, 2016, license of NBC Bank reinstated.

Report informs referring to the official website of the NBC Bank.

According to the information, on February 3 NBC Bank will resume all banking operations.

CBAR has confirmed this information to Report News Agency.

Notably, due to the decision of CBAR from January 25, 2016, the license of NBC Bank was revoked due to non-compliance with requirements for the minimum total capital, non-fulfillment of obligations to creditors, the lack of provision of reliable and prudential management.

On January 26, the bank has been appointed interim administrator.