16:44 - 23.05.2023

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May 23, Fineko/abc.az. In connection with the decision of Central Bank Board of Directors from May 16, 2023 that the amount of total capital is less than the minimum amount established for banks, the adequacy ratio of total capital is less than 3%, as well as not carrying out current activities in reliable and prudential manner, in accordance with Articles 16.1.6, 16.1.7, 16.1.9 and 61 of the Law on Banks, the license of Günay Bank was canceled on May 17, 2023, and an application for liquidation of the bank by bankruptcy was filed to the court.

ABC.AZ reports with reference to the Azerbaijan Deposit Insurance Fund that by the Baku Court of Appeal decision #2-3(103)-42/2023 dated May 18, 2023, Günay Bank was declared bankrupt and bankruptcy proceedings were initiated.

Based on the above-mentioned decision of the Baku Court of Appeal, the ADIF was appointed liquidator of Günay Bank.