Information of the Central Bank

18-07-2025

18 July 2025, Baku: On July 15, 2025, First Deputy Governor of the Central Bank of the Republic of Azerbaijan (CBA) Aliyar Mammadyarov received Spartak Tetrashvili, a representative of Georgia's TBC Bank Group, Chairman of the Board of Directors of Uzbekistan's TBC Bank and a member of the Supervisory Board of TBC Credit Non-Bank Credit Organization LLC (TBC Credit NBCO) operating in Azerbaijan.

They discussed trends in Azerbaijan's and the region's financial systems and exchanged views on new strategic challenges and goals for developing the financial sector.

Tetrashvili touched upon the issues of regulation of the activities of non-bank credit organizations by the CBA and their development, expressing gratitude for the support provided to this area so far. He also noted that in accordance with the changes made by TBC Bank Group in its strategy, an application was made to suspend the activities of TBC Credit NBCO and for this purpose, the CBA was requested to voluntarily cancel the organization’s license.

In conclusion, the prospects for TBC Bank Group's future return to the Azerbaijani financial sector were discussed, and the Group was wished success in its future endeavors.

To note, based on the application submitted by TBC Credit NBCO LLC in accordance with Article 25.1.1 of the Law of the Republic of Azerbaijan “On Non-Bank Credit Institutions”, the relevant License No. 111-KB dated 29.02.2000, issued to it by the Decision of the Central Bank’s Management Board dated 17.07.2025, was voluntarily canceled. According to the organization's reports, it had no outstanding liabilities as of the relevant date.

According to Article 25.4 of the Law of the Republic of Azerbaijan "On Non-Bank Credit Institutions", a non-bank credit organization ceases its activities from the date of entry into force of the decision to revoke its license and is liquidated in accordance with the procedure established by the Civil Code of the Republic of Azerbaijan.