April 27, 2020 / 10:06 AM / a month ago

Azeri central bank says appoints external administrators for four commercial lenders

BAKU, April 27 (Reuters) - Azerbaijan’s central bank said on Monday it had put commercial banks Atabank, AGBank, NBCBank and Amrakh Bank, all among the top 15 banks in the ex-Soviet country, into external administration.

It did not give any reason for its decision in a statement, but a source at the central bank told Reuters that all four banks had been facing liquidity and financial sustainability problems.

There are 30 commercial banks in Azerbaijan. (Reporting Nailia Bagirova; Writing by Margarita Antidze; Editing by Catherine Evans)

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