DekaBank (Azerbaijan)

Last updated
DekaBank
Company type Open Joint-Stock Company
Industry Banking
Founded1989 [1]
Headquarters
Baku
,
Azerbaijan
Area served
 Azerbaijan
Key people
Surayya Agayeva,
Chairman of the Supervisory Board
Ismayil Aliyev, Chairman of the Management Board
Products Financial services
Website www.dekabank.az

DekaBank was formed as the first private bank in Azerbaijan in 1989. Until the collapse of the USSR, it served as a cooperative bank, whereas the Central Bank of Azerbaijan issued a license in 1992 which authorized the bank to offer all kinds of commercial banking services. [2]

Contents

The devaluation in 2015, along with the decline in oil prices on global markets, led to the collapse of Azerbaijan's banking sector. [3] By decision of the Board of Directors of the Financial Markets Supervisory Authority of the Republic of Azerbaijan dated 21 July 2016, DekaBank's banking licence was revoked. [4] A decision was taken to liquidate the bank and appoint the Azerbaijan Deposit Insurance Fund as its liquidator. [5]

See also

References

  1. ↑ Banks.Az, DekaBank, retrieved 16 July 2012
  2. ↑ "Banks.Az, DekaBank, retrieved 16 July 2012". Archived from the original on 16 July 2012. Retrieved 16 July 2012.
  3. ↑ "Several more banks to be closed". Modern.az (in Azerbaijani). 2017-03-16. Retrieved 2025-12-08.
  4. ↑ "Four banks' licenses revoked in Azerbaijan". Report Information Agency (in Azerbaijani). 2016-07-22. Retrieved 2025-12-08.
  5. ↑ "Fund signed an agreement regarding liquidated banks". Modern.az (in Azerbaijani). 2018-04-04. Retrieved 2025-12-08.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.