BAKU, Azerbaijan, May 6. The major part of the
deposit portfolio of Azerbaijan's Bank BTB OJSC has already been
transferred to the International Bank of Azerbaijan (IBA), the CBA
Chairman, Taleh Kazimov, said at a press conference held today,
Trend reports.
"The process of transferring the loan portfolio has now begun.
The full transfer of the bank's assets and liabilities will be
ensured by the end of June," the CBA chairman added.
By the decision of March 5, 2026, the CBA Management Board
granted preliminary consent for the reorganization of Bank BTB OJSC
into a non-bank credit institution (NBCI), following an application
submitted by the bank and in accordance with the applicable
legislation.
"On the basis of this consent, Bank BTB OJSC will undertake the
necessary steps for its conversion into an NBCI under the
supervision of the CBA, in line with the procedure set out in the
‘Regulations on reorganization of banks.’
In this context, Bank BTB OJSC and the IBA, the largest bank in
the country in terms of total assets, have signed an agreement on
the transfer of assets and liabilities. Under this agreement,
deposits of individuals and legal entities currently held with Bank
BTB OJSC will be serviced by the IBA, subject to the consent of
depositors and without changes to the existing contractual terms
and conditions. Alternatively, the IBA will return the deposits to
the respective clients. In addition, the rights of claim related to
loans and other obligations owed to Bank BTB OJSC will be
transferred to the IBA, which will assume the corresponding rights
and obligations. Customers will be informed by the IBA and Bank BTB
OJSC through the relevant communication channels," the CBA
statement noted.
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