17:14 - 21.10.2022

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October 21, Fineko/abc.az. The Baku branch of the National Bank of Pakistan, which is in the process of liquidation, has fulfilled the obligation on deposits of all customers, ABC.AZ reports, citing branch’s deputy general manager Sahib Guliyev.

The savings of clients in the amount of AZN 500,000 have already been returned.

Guliyev added that with CBA’s support, the process of liquidation of the bank continues.

He points out that one of the main issues is the return of problem loans: "The volume of branch’s problem loans is AZN 767,000 (14-15 clients). Meetings were held with them. For those customers who cannot make the payment, we extend the deadline. For those customers who do not want to repay the loan debt, the pledged property is put up for auction."

In conclusion, he added that the portfolio of branch’s problem loans can be put up for sale: "The portfolio can be put up for sale, but the decision on this is made by the head office of the bank."

The Baku branch of the NBP has been operating since 1995. On 13 October 2022, on the basis of bank’s voluntary request, the CBA cancelled the license of the branch.