AtaBank Is One Of The Largest Commercial Banks In Azerbaijan, Founded In 1993. It Is A Subsidiary Of ATA Holding. [2] The Bank Opened Its First Branch In The Capital Khachmaz In 2003. It Has 19 Branches And 2 Departments Across The Country. AtaBank's Financial Reporting Is Audited By Deloitte.
In 2014, The Bank Opened New Outlets In Naftalan, Azerbaijan, And Gyanja, Azerbaijan. The Gyanja Location Is Located Within A Local Hospital.
In 2013, The Bank's Net Profit Was 5.60 Million AZN. The Return On Capital In 2013 Was 19.4%.
In 2020, The Bank Declared Bankruptcy. "Atabank" OJSC Has Been Unable To Meet Its Obligations Regarding The Return Of Public Deposits For A Long Time. Upon Inspection By The Central Bank Of Azerbaijan, It Was Found That AtaBank Had Suffered Severe Financial Losses, Had Completely Lost Its Capital And Was Bankrupt. According To The Latest Inspection, AtaBank's Capital Index Was 214 Million AZN, But The Normal Operation Of The Bank Requires 264 Million AZN.
Through Discussions With The Shareholders Of The Bank, They Were Informed Of The Results Of The Inspection And Received Additional Capitalization Of The Bank, But They Did Not Take Advantage Of The Opportunity. AtaBank And Another Bankrupt Bank, Amrahbank, Have A 2.1% Share In Banking Assets And A 3% Share In The Loan Portfolio. In Accordance With The Relevant Decision Of The Central Bank Board Of Directors Dated April 27, 2020, An Interim Administrator Has Been Appointed To Oversee The Operations Of AtaBank. All The Powers Of The Bank's Management, Including Those Of The Bank's General Meeting Of Shareholders, Have Been Transferred To The Interim Administrator. According To The Decision Of The Central Bank Board Dated April 28, The License Of "Atabank" OJSC Was Cancelled On The Same Day. As A Result, The Bank Was Appealed To The Court To Go Through Bankruptcy Liquidation.
