Bank BTB OJSC’s banking license revoked as part of reorganization; T-Credit NBCI LLC licensed as legal successor

31-07-2026

31 July 2026, Baku: The Management Board of the Central Bank of the Republic of Azerbaijan has revoked the banking license of Bank BTB OJSC and issued a license to its legal successor, T-Credit Non-bank Credit Institution LLC (T-Credit NBCI LLC), completing the bank's reorganization. The decision of 27 July 2026 was made under Articles 16.1.1 and 29 of the Law of the Republic of Azerbaijan on Banks and the Regulation on reorganization of banks. T-Credit NBCI LLC was licensed under Articles 10 and 11 of the Law of the Republic of Azerbaijan on Non-bank Credit Institutions.

As previously announced, the Central Bank's Management Board granted preliminary approval on 5 March 2026, at Bank BTB OJSC's request, for the bank to be reorganized through its conversion into a non-bank credit institution. As part of the reorganization, Bank BTB OJSC approved a plan to meet its obligations to depositors and other creditors and notified creditors in accordance with applicable legal requirements. The bank also signed an Agreement on the Transfer of Assets and Liabilities with International Bank of Azerbaijan OJSC (IBA). Under the agreement, the transfer of Bank BTB OJSC's assets and liabilities to IBA was completed successfully.

All term and demand deposits held by Bank BTB OJSC customers were transferred to IBA without any changes to their terms and conditions. Customers retained uninterrupted access to their funds throughout the process.

The transfer of the bank's loan portfolio was also completed successfully. Rights of claim arising from loans and other obligations owed to Bank BTB OJSC were transferred to IBA while preserving all contractual terms and conditions, ensuring uninterrupted loan servicing.

The Central Bank's above decision completes the revocation of Bank BTB OJSC's banking license and its conversion into T-Credit Non-bank Credit Institution LLC.

T-Credit NBCI LLC will operate from 9 Nigar Rafibayli Street, Baku, Republic of Azerbaijan.