Yesterday, NBCBank OJSC has appealed to the Central Bank about its intent of consolidation with other banks, noting that it is carrying out actions to better the financial situation, ensure the execution of obligations, and restore the capital position.
According to information, the NBCBank has signed a protocol of intent with other banks on merging with them, and a new investment of funds in the bank has been carried out for increase of capital.
“At the expense of these funds, the execution of the overdue obligations before the population and creditors has begun. Considering the suitability of the consolidation process with the strategic development line of the banking sector, under the Central Bank’s Board of Directors’ decision 10/3 dated 1 Feb.2016, the decision (25 January 2016, No. 06/3) on withdrawal of the NBCBank’s license has been cancelled.
Additionally note that the Bank will be operating under the Central Bank’s control till the consolidation process is fully over.
Three banks signed protocol of intent on consolidation - Central Bank
03 February 2016
Read: 1688
NBC Bank, Parabank and KredoBank have signed a protocol of intent on consolidation, Central Bank of Azerbaijan told.
-1780923278.jpg&h=190&w=280&zc=1&q=100)
