Central Bank: Vast majority of deposits in closed Azerbaijani banks insured
BAKU, Azerbaijan, May 13
By Eldar Janashvili - Trend:
The total amount of mortgage loans held by banks whose licenses were revoked is about 211 million manat ($124.1 million), Chairman of Central Bank of Azerbaijan (CBA) Elman Rustamov said, Trend reports.
Rustamov made the statement at a press conference on the revocation of the licenses of NBC Bank and AGBank.
The chairman said that the future of these loans, that is, to which existing banks they will be redirected, will be decided by the Mortgage and Credit Guarantee Fund of Azerbaijan.
The CBA’s chairman noted that the vast majority of deposits were insured, the amount of uninsured deposits does not exceed 3 million manat ($1.7 million).
(1 USD = 1.7 manat on May 13)
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