name: Royal Bank of Azerbaijan
The Royal Bank of Azerbaijan was established on August 2, 1993. It is a private commercial bank in Azerbaijan. The bank provides financial services to individual customers, small and medium-sized businesses. The chairman of its supervisory board is AZER Shahmardanov.
In 2004, the Supervisory Board of Azerbaijan took control of the Royal Bank of Azerbaijan and initiated a plan to reorganize the financial and control systems of the Royal Bank of Azerbaijan. In 2006, it was incorporated into the Baku Stock Exchange.
The Royal Bank of Azerbaijan has 32 regional branches throughout Azerbaijan, including a branch in Baku. On July 12, 2012, it was notified in writing by the Central Bank of Azerbaijan to revoke its business license due to liabilities. On August 2, 2012, the Administrative Economic Court of Azerbaijan declared the bank bankrupt.
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