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Royal Bank (Azerbaijan)

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Royal Bank
IndustryBanking
FoundedAugust 2, 1993
DefunctAugust 2, 2012
FateBankruptcy
HeadquartersBaku, Azerbaijan
Area served
Azerbaijan
Key people
Azer Shahmardanov,[1]
Chairman of the Supervisory Board
ProductsFinancial Services
Commercial Banking
Number of employees
622[2]
Websitewww.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

References