Closed and merged banks in Azerbaijan - List


September 18, Fineko/abc.az. At different times, there were cases of banks closing for financial and other reasons. From time to time, some banks also merge.

Abc.az offers you a list of banks that closed and merged at different times.

Among the closed banks, the largest was Bank Of Azerbaijan. This bank closed in 2016. And recently the demolition of the Bank building has begun. According to the allegations, the bank building will continue to exist in the form of a hotel. In the same year, Texnikabank also froze its activities. In 2016, Bank Standard, Caucasus Development Bank, Atrabank, Dekabank, Kredobank OJSC, Parabank OJSC and Zaminbank OJSC also leave the banking sector. Parabank OJSC subsequently entered the banking sector as a non-bank credit organization and currently operates in this direction. The last closed bank was DemirBank OJSC. This bank was closed in 2017. And in early 2000, several banks merged and became even larger. Among them, M bank, created in 1992, which was merged with PROMTEXBANK, can be noted, as a result of which Unibank appeared. Meanwhile, the Caspian Development Bank joined Atabank.