By the Decision of the Board of Directors of the Central Bank of the Republic of Azerbaijan dated March 05, 2026, in accordance with legislation, preliminary consent has been given for the reorganization of Bank “BTB” OJSC in the form of its conversion into a non-bank credit organization (NBCO), based on its application.
Modern.az reports that information on this matter was provided by the Central Bank.
"Based on the aforementioned consent, necessary measures for conversion into an NBCO by Bank “BTB” OJSC will be carried out under the supervision of the Central Bank, in accordance with the process defined by the “Rules on Reorganization of Banks”.
Within this framework, an “Agreement on the Transfer of Assets and Liabilities” has been signed between Bank “BTB” OJSC and “Azerbaijan International Bank” OJSC (ABB), which is the country's largest bank by asset volume. In accordance with this agreement, with the consent of individuals and legal entities holding time and demand deposits at Bank “BTB” OJSC, the continuation of their deposit services at ABB without changing the existing terms, or the return of their deposits by ABB, will be ensured. Furthermore, the rights of claim against customers with credit debts or other obligations to Bank “BTB” OJSC will be transferred to ABB, and the acceptance of payments will be carried out by ABB. Information regarding these matters will be communicated to customers by ABB and Bank “BTB” OJSC through appropriate communication channels.
Thus, the reorganization of Bank “BTB” OJSC poses no threat to the bank's creditors, including depositors.
Bank “BTB” OJSC's share in the country's banking system's assets is only 0.6%, 0.9% in the credit portfolio, and 0.6% in the sector's liabilities", the statement says.
