BAKU, Azerbaijan, September 28. The liquidation process of Azerbaijan Credit Bank OJSC has concluded.
This was reflected in a statement by the Deposit Insurance Fund.
According to the statement, the legal procedures established by legislation regarding the conclusion of the liquidation process for Azerbaijan Credit Bank OJSC, which was being liquidated by the Deposit Insurance Fund, have been completed, and the liquidation has been finalized.
The announcement noted that Azerbaijan Credit Bank OJSC was subject to compulsory liquidation pursuant to the decision of Baku Administrative-Economic Court No. 1 (Case No. 2-1(81)-3854/2015) dated July 29, 2015, and that the Deposit Insurance Fund was appointed as the bank's liquidator in accordance with the ruling of the Administrative-Economic Board of the Baku Court of Appeal (Case No. 2-1(103)-798/2019) dated February 26, 2019.
"Following its appointment as the liquidator, the fund implemented statutory measures to ensure the prompt fulfillment of the bank's obligations, ultimately resulting in the complete settlement of all liabilities. The fund subsequently petitioned the relevant court to conclude the bank's liquidation process and terminate the fund's role as liquidator.
By the decision of the Administrative Board of the Supreme Court of Azerbaijan dated August 19, 2026 (Case No. 2-3(1-8)-4/2026), the fund's petition was granted; the liquidation process of Azerbaijan Credit Bank OJSC was concluded, and the Fund's activities as liquidator were terminated.
The Deposit Insurance Fund is currently handling the liquidation of 21 banks. The fund is taking all necessary measures to complete the liquidation of these banks as quickly as possible and in a manner that serves the interests of the creditors," the statement noted.
