Azerbaijan Repeatedly Auctions Off Liquidated Bank Assets

(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 27. Open auctions on the sale of real estate of Technika Bank OJSC, which is in the process of liquidation, will be held at Baku Auction Center LLC on February 21, Trend reports via Deposit Insurance Fund.

The matter concerns non-residential premises belonging to Technica Bank located in the Khatai district of Baku at Babek Avenue, 12 A: 187.8 sq meters worth 394,000 manat ($231,700), 115.9 sq meters worth 255,000 manat ($149.900), 188.9 sq meters worth 397,000 manat ($233.500), 117.4 sq. meter at the cost of 258,000 manat ($151.700), two premises of 185.4 sq. meter at the cost of 389,000 manat ($228.800) each, 4 premises of 153.2 sq. meter at the cost of 322,000 manat ($189.400) each, 8 premises of 111.5 sq. meter at the cost of 245,000 manat ($144.100) each.

Therefore, the total cost of the property put up for auction is 5.33 million manat.

To note, by the decision of the Board of the Central Bank of Azerbaijan (CBA) on February 1, 2016, the banking license of Technika Bank OJSC was annulled.

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