Information on preliminary consent for reorganization of Bank BTB OJSC into a non-bank credit institution and transfer of its clients to IBA

06-03-2026

6 March 2026, Baku: The Management Board of the Central Bank of the Republic of Azerbaijan, at its meeting of 5 March 2026, 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 Central Bank, in line with the procedure set out in the ‘Regulations on reorganization of banks.’

In this context, Bank BTB OJSC and the International Bank of Azerbaijan (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 reorganization of Bank BTB OJSC is therefore not expected to pose any risk to the bank’s creditors or depositors.

Bank BTB OJSC represents a limited share of the Azerbaijani banking sector, accounting for about 0.6% of total banking system assets, 0.9% of the loan portfolio and 0.6% of total sector liabilities.