Naxçıvanbank transformed into NBCO

12:13 - 20.06.2024

June 20, Fineko/ Naxçıvanbank OJSC has changed its name and organizational & legal form, announcing its transformation into a non-bank credit institution E-Kredit LLC.

ABC.AZ reports that according to the State Tax Service, Naxçıvanbank was established in 2008 and is the only regional bank in the country. Its authorized capital is 44 million manats. 63.66% of the Bank's shares are owned by Huseyn Mammadov, 26.52% by Rufat Mammadov and 9.82% by Binnat Novruzov.

This is the 2nd experience of converting a bank into an NBCO in Azerbaijan. Previously, ParaBank OJSC was transformed into Para LLC.