Royal Bank (Azerbaijan)
 | |
| Industry | Banking |
|---|---|
| Fate | Bankruptcy |
| Founded | August 2, 1993 |
| Defunct | August 2, 2012 |
| Headquarters | Baku, Azerbaijan |
Area served | Azerbaijan |
Key people |
Azer Shahmardanov,[1] Chairman of the Supervisory Board |
| Products |
Financial Services Commercial Banking |
Number of employees | 622[2] |
| Website | www.royalbank.az |
Royal Bank was a private commercial bank established as ÖZ BANK on 2 August 1993. The bank provided financial services for individual customers, small- and mid-size businesses. The last supervisory board took the control over the bank in 2004 and initiated a program on restructuring the financial and control systems.
Royal Bank was included into the Baku Stock Exchange in 2006. It had 32 regional branches including the branches in Baku.[3]
On 12 July 2012, Central Bank of Azerbaijan cancelled the license of Royal Bank due to the unfulfilled liabilities and the written notifications of the Central Bank. On 2 August 2012, the Administrative Economic Court in Baku announced that Royal Bank went bankrupt.[4]
See also
- Banking in Azerbaijan
- Central Bank of Azerbaijan
- List of banks in Azerbaijan
- Azerbaijani manat
- Economy of Azerbaijan
References
External links
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