The Baku branch of Iran’s Melli Bank (National Bank) has fully resumed its operations after a period of inactivity in Azerbaijan.
The branch has restarted issuing loans and accepting deposits, marking a full return to regular banking services after nearly a year of restricted operations.
An agreement on the matter was reached during the visit of Iranian President Masoud Pezeshkian to Azerbaijan.
Azerbaijan's Central Bank Chairman Taleh Kazimov said that shortcomings were identified at the branch, resulting in service limitations.
According to him, the bank’s Baku branch met regulatory requirements and did not pose a risk to Azerbaijan’s financial system. The full resumption of its services follows the elimination of the identified deficiencies, allowing the branch to operate in accordance with national regulations.
