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New director general appointed at Bank Standard

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New director general appointed at Bank Standard

KhalidAkadov was appointed director general of Azeri lender , Trend reportedJuly 12.

Akadov,who will chair the lender's management board, was tasked with forming a new boardfor the lender by Aug. 3, which is when the bank will officially resume itsactivities.

Thebank was put under provisional administration in May, with a temporarymoratorium imposed on the withdrawal of deposits. In July, the shares of BankStandard were takenover by Azer-Turk BankOJSC as part of a financial recovery program.