The Central Bank of Azerbaijan has revoked the banking license of Bank BTB OJSC, effective July 27, 2026. This decision, based on the bank's own application, aligns with the Law on Banks and regulations regarding bank reorganization. Simultaneously, the regulator has granted a license to T-Kredit Non-Bank Credit Organization LLC, which serves as the legal successor to the former bank.
According to the Operative Information Center-OMM, citing the Central Bank, this transition follows a preliminary approval granted on March 5, 2026. The reorganization process involved a comprehensive plan to fulfill obligations to depositors and creditors, culminating in an asset and liability transfer agreement with the International Bank of Azerbaijan (ABB).
The transition ensures continuity for existing clients. All term and demand deposits held by Bank BTB customers have been transferred to ABB without changes to their original terms, granting clients uninterrupted access to their funds. Similarly, the entire credit portfolio has been migrated to ABB, ensuring that loan repayment obligations remain under the original contract terms. T-Kredit Non-Bank Credit Organization LLC will operate from its new headquarters located at 9 Nigar Rafibeyli Street, Baku.
