May 12, 2020 / 9:48 AM / 19 days ago

Azerbaijan's central bank revokes licences of two banks

BAKU, May 12 (Reuters) - Azerbaijan’s central bank said on Tuesday it had revoked the licences of AGBank and NBCBank due to financial problems.

“The situation in these banks is not satisfactory and the banks have serious problems with capital losses and liquidity,” the central bank said in a statement.

The central bank last month revoked the licences of two other banks, AtaBank and Amrakh Bank, also due to financial issues.

The number of commercial banks in the ex-Soviet country has declined to 26 from 30 in the last two weeks. (Reporting by Nailia Bagirova; Writing by Margarita Antidze; Editing by Ed Osmond)

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