BAKU, Azerbaijan, May 6. The major part of the deposit portfolio of Azerbaijan's Bank BTB OJSC has already been transferred to the International Bank of Azerbaijan (IBA), the CBA Chairman, Taleh Kazimov, said at a press conference held today, Trend reports.
"The process of transferring the loan portfolio has now begun. The full transfer of the bank's assets and liabilities will be ensured by the end of June," the CBA chairman added.
By the decision of March 5, 2026, the CBA Management Board granted preliminary consent for the reorganization of Bank BTB OJSC into a non-bank credit institution (NBCI), following an application submitted by the bank and in accordance with the applicable legislation.
"On the basis of this consent, Bank BTB OJSC will undertake the necessary steps for its conversion into an NBCI under the supervision of the CBA, in line with the procedure set out in the ‘Regulations on reorganization of banks.’
In this context, Bank BTB OJSC and the IBA, the largest bank in the country in terms of total assets, have signed an agreement on the transfer of assets and liabilities. Under this agreement, deposits of individuals and legal entities currently held with Bank BTB OJSC will be serviced by the IBA, subject to the consent of depositors and without changes to the existing contractual terms and conditions. Alternatively, the IBA will return the deposits to the respective clients. In addition, the rights of claim related to loans and other obligations owed to Bank BTB OJSC will be transferred to the IBA, which will assume the corresponding rights and obligations. Customers will be informed by the IBA and Bank BTB OJSC through the relevant communication channels," the CBA statement noted.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel
