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Azerbaijan Deposit Insurance Fund continues compensating depositors of closed banks

Economy Materials 10 September 2020 17:45
Azerbaijan Deposit Insurance Fund continues compensating depositors of closed banks

BAKU, Azerbaijan, Sept. 10

By Jala Gasimova - Trend:

The Azerbaijan Deposit Insurance Fund (ADIF) paid 513 million manats ($301.7 million) to compensate 21,506 depositors of Ata Bank, Amrah Bank, AG Bank, and NBC Bank, Trend reports referring to ADIF.

According to the ministry, 3,700 depositors of AG Bank received 69.8 million manats ($41 million) of compensation, 3,700 depositors of NBC Bank - 109.1 million manats ($64 million), 8,800 depositors of Atabank - 203.7 million manats ($119.8 million), and 5,400 depositors of Amrah Bank - 129.4 million manats ($76.1 million).

Payments of compensation to depositors of Atabank and Amrah Bank are carried out from June 1, 2020, and are paid in non-cash form through debit cards of Kapital Bank OJSC.

At the same time, payments of compensation to depositors of AG Bank and NBC Bank began on June 16, 2020, and are paid by bank transfer through debit cards of the International Bank of Azerbaijan OJSC.

The Central Bank of Azerbaijan (CBA) liquidated the licenses of the mentioned banks.

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