BAKU, Azerbaijan, July 31. Azerbaijan's Central Bank (CBA) has revoked the banking license of Bank BTB OJSC and issued a license to its legal successor, T-Kredit Non-Bank Credit Organization LLC, following the bank's reorganization.
According to the statement of CBA, the decision was approved by its Management Board on July 27, 2026, in accordance with the Law on Banks, the Rules on the Reorganization of Banks, and the Law on Non-Bank Credit Organizations.
As previously reported, the Central Bank's Management Board granted preliminary approval on March 5, 2026, for the reorganization of Bank BTB into a non-bank credit organization at the bank's request.
As part of the reorganization, a plan for fulfilling the bank's obligations to depositors and other creditors was approved, and creditors were duly notified. Bank BTB and the International Bank of Azerbaijan (ABB) also signed an Asset and Liability Transfer Agreement, under which all of Bank BTB's assets and liabilities were successfully transferred to ABB.
According to the Central Bank, all term and demand deposits held by Bank BTB customers were transferred to ABB without any changes to their terms and conditions, ensuring uninterrupted access to customers' funds.
The transfer of the bank's loan portfolio has also been completed. All rights related to loans and other obligations owed to Bank BTB were transferred to ABB while maintaining the existing contractual terms, ensuring uninterrupted servicing of borrowers.
The Central Bank said the completion of these procedures marks the successful conclusion of the process of revoking Bank BTB's banking license and transforming it into T-Kredit Non-Bank Credit Organization LLC.
T-Kredit Non-Bank Credit Organization LLC will operate from 9 Nigar Rafibeyli Street, Baku.
