NBP Baku branch's receivables amount to about $1.5 million 

The liabilities of the Baku branch of the National Bank of Pakistan (NBP) amount to 500,000 manats ($0.29 million), receivables to 2.5 million manats ($1.47 million) and pledged assets to 3.4 million manats ($2 million), Sahib Guliyev, deputy general manager of the Baku branch of the Bank, told Report.

"Almost all of our capital is in the bonds of the Ministry of Finance. Our assets in this direction amount to 6.7 million manats ($3.94 million)," Guliyev added.

According to him, although the liquidation of the branch is expected to be completed in the next year, the process may be prolonged: "I personally do not believe in this. I think that the process will last at least 2-3 years. For example, the Bank's branches in Almaty, Dushanbe, and Ashgabat were shut down in 2019. But the liquidation process has not been completed so far."

Guliyev also said that more than 20 people worked in the branch, but in recent months the number of employees has been reduced by half: "8-9 people have already been laid off, and 6 people will be retained."

The Baku Branch of the National Bank of Pakistan has been in operation since 1996. The authorized capital is 9.42 million manats ($5.54 million).