Bank BTB loses its license
By decision of the Executive Board of the Central Bank of the Republic of Azerbaijan dated July 27, 2026, based on the application of Bank BTB OJSC, in accordance with Articles 16.1.1 and 29 of the Law of the Republic of Azerbaijan "On Banks," as well as the "Rules on the Reorganization of Banks," the banking license issued to Bank BTB OJSC was annulled, and its legal successor — Non-Bank Credit Organization T-Kredit LLC — was granted a license on the basis of Articles 10 and 11 of the Law of the Republic of Azerbaijan "On Non-Bank Credit Organizations."
As stated in the Central Bank's announcement, earlier, by decision of the Executive Board of the Central Bank dated March 5, 2026, preliminary consent was given, in accordance with legislation and based on the application of Bank BTB OJSC, for its reorganization in the form of transformation into a non-bank credit organization. As part of the reorganization process of Bank BTB OJSC, a plan for fulfilling obligations to the bank's depositors and other creditors was approved, and the bank's creditors were duly informed. Within this framework, an "Agreement on the Transfer of Assets and Liabilities" was signed between the International Bank of Azerbaijan OJSC (ABB) and Bank BTB OJSC, and in accordance with this agreement, the transfer of the assets and liabilities of Bank BTB OJSC to ABB was successfully completed.
It should be noted that the term and demand deposits of Bank BTB OJSC's clients were fully and seamlessly transferred to ABB without any change in their terms, and all clients were provided with unrestricted access to their funds and the ability to use them.
At the same time, the process of transferring the loan portfolio was also successfully completed. The rights of claim against clients with credit debt or other obligations to Bank BTB OJSC were transferred to ABB with the terms of the contracts preserved, and continuity of loan servicing was ensured.
Thus, by the above-mentioned decision of the Executive Board of the Central Bank, the process of annulling the license of Bank BTB OJSC and its transformation into Non-Bank Credit Organization T-Kredit LLC has been successfully completed.
Non-Bank Credit Organization T-Kredit LLC will carry out its activities at the following address: Baku city, Nigar Rafibeyli Street, building 9.
