17:45 - 18.07.2025

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July 18, Fineko/abc.az. The Central Bank of Azerbaijan has cancelled the license of TBC Kredit, a local subsidiary of Georgian TBC Bank.

ABC.AZ informs with reference to the CBA that Aliyar Mammadyarov, the first deputy chairman of the organization, received Spartak Tetrashvili, a representative of TBC Bank and a member of the Supervisory Board of TBC Credit. At the meeting, he noted that in accordance with the changes made to the strategy of TBC Bank, it was decided to suspend the activities of TBC Credit.

In accordance with Article 25.1.1 of the Law on Non-Bank Credit Organizations, the CBA voluntarily revoked the relevant license No. 111-KB dated 02/29/2000, based on an application submitted by TBC Credit. According to organization's financial statements, there are no obligations to individuals as of the relevant date. Based on Article 25.4 of the Law, the NBCO terminates its activities from the date of entry into force of the decision to terminate the license and terminates its validity in accordance with the procedure established by the Civil Code.