Liabilities to Baku branch of National Bank of Pakistan amount to AZN 2.5 million

17:50 - 13.10.2022


October 13, Fineko/abc.az. The Baku branch of the National Bank of Pakistan has liabilities of half a million mantas. At the same time, third parties’ liabilities to the bank, secured by a pledge of AZN 3.4 million, reach AZN 2.5 million.

ABC.AZ reports that branch’s deputy general manager Sahib Guliyev said about this, when commenting on the withdrawal of the credit institution represented by him from the Azerbaijani market.

"Almost all of our capital is in bonds of the Ministry of Finance. The value of our assets in this direction is AZN 6.7 million," Guliyev said.

According to Guliyev, the process of liquidation of the branch is planned to be completed in the coming year, but it may be delayed: "I think the process will last at least 2-3 years. For example, the process of liquidation of branches closed in Almaty, Dushanbe and Ashgabat in 2019 is still not completed."

An employee of the Baku branch also said that the credit institution previously employed more than 20 people, but in recent months the number of employees has halved.

The Baku branch of the National Bank of Pakistan has been operating since 1996. Its authorized capital is AZN 9.42 million.

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