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Details of breaches in banks before their closing became known

30.07.2020,15:03


July 30, Fineko/abc.az. Central Bank’s chairman Elman Rustamov has unveiled the details of violations in the closed banks.

ABC.AZ reports that according to Rustamov, those banks continued accepting deposits, despite they were banned to do it in connection with their expected closing.

Then, touching upon the situation in NBC Bank, Rustamov noted that bank's capital immediately attracted the attention of the Central Bank: "First of all, we looked at the bank's capital and saw that this bank is weak. Its report about the capital level did not correspond to reality. During the audit we also found that, despite the ban, the bank kept on accepting deposits before its closing. That is, apparently, because of the financial condition of the bank, there was a liquidity problem, but it was not fully indicated in the reports, it was hidden. We realized that the bank is going to close and banned the acceptance of deposits in general."