Depositors of bankrupt Azerbaijani banks get over 406M manats

Depositors of bankrupt Azerbaijani banks get over 406M manats

Baku, Azerbaijan, Oct. 18

By Anvar Mammadov – Trend:

The Azerbaijan Deposit Insurance Fund (ADIF) has paid compensations worth over 406.84 million Azerbaijani manats (AZN) to depositors of Dekabank, Kredobank, Zaminbank, Parabank, Caucasus Development Bank, Atrabank, Bank of Azerbaijan, Gandjabank, Texnikabank and Bank Standard, ADIF said in a message Oct. 18.

Acceptance of applications from insured depositors of DekaBank, KredoBank, Zaminbank and Parabank began Aug. 1 and the payment of compensations has been carried out since that day.

Compensations to the insured depositors of Caucasus Development Bank and AtraBank are being paid starting from Aug. 23. Payments are being carried out at the branches of those closed banks.

AtraBank’s clients can obtain compensations at those branches, where they concluded agreements to accept deposits. Those people, who concluded agreements at the Khazar branch, should apply to the bank’s main office.

Depositors of Caucasus Development Bank receive compensations at the bank’s main office.

Payment of compensations to insured depositors of Bank of Azerbaijan has been carried out since Jan. 29, 2016 at branches of Muganbank and Rabitabank, and since Sept. 8, 2016 in the office of the ADIF.

Clients of Ganjabank receive compensations since Feb. 4 at the branches of Rabitabank, Unibank and Kapital Bank.

ADIF started payment of compensations to insured depositors of Texnikabank since Feb. 12: clients receive compensations at the fund’s office.

Compensation payment to customers of Bank Standard started October 11. Compensations can be obtained at the head office and branches of Bank Standard in Baku and districts of the country during one year.

Depositors of Bank Standard received 141.43 million manats out of the total compensations of 460 million manats.

Depositors of Parabank received 32.82 million manats out of the total compensations of 43.79 million manats, and depositors of Zaminbank received 50.97 million manats. The compensations paid to Dekabank’s depositors amounted to 2.85 million manats out of the payments’ total volume of 5.59 million manats.

Kredobank’s depositors received compensations worth 17.98 million manats out of the compensations’ total volume of 30.21 million manats.

The compensations paid to depositors of Caucasus Development Bank amounted to 1.85 million manats out of the total compensations of 2 million manats.

Depositors of Atrabank received 13.9 million manats out of the total compensations of 13.9 million manats.

Depositors of Bank of Azerbaijan received compensations worth 24.09 million manats out of the compensations’ total volume of 24.2 million manats.

The compensations paid to depositors of Gandjabank and Texnikabank amounted to 0.97 million manats and 119.98 million manats out of the total compensations of 1 million manats and 122.6 million manats, respectively.

The licenses of all the ten banks were cancelled during 2016 as their assets were not classified in line with the law, they didn’t create adequate reserves and the aggregate capital of these banks doesn’t meet the minimum requirements [50 million manats]. In general, they haven’t fulfilled the regulator’s instructions.

Central Bank of Azerbaijan allocates funds to support financial literacy
Central Bank of Azerbaijan allocates funds to support financial literacy
Lending to electricity sector in Azerbaijan increases
Lending to electricity sector in Azerbaijan increases
Azerbaijan's ADIF continues compensating depositors of closed banks
Azerbaijan's ADIF continues compensating depositors of closed banks
Loading Bars
South Korea mulls commercial use of Northern Sea Route
Bahrain approves emergency use of Russia’s Sputnik Light vaccine — agency
Forum in New Zealand focuses on New Zealand-China economic cooperation, development opportunities
WHO head claims as global COVID cases drop to 630,000 per day
US Department of Energy retains forecast for Brent oil price at $62.3 per barrel in 2021
Samsung sees pandemic-led appliances boom extending run to rest of year
Next meeting on electoral reform to be held on May 14-16
Central Bank of Azerbaijan allocates funds to support financial literacy
Turkish State Mine Administration opens tender for rental of vehicles
Lending to electricity sector in Azerbaijan increases
Kazakh KazMunayTeniz to buy diesel fuel via tender
Iran's Petropars Company orders equipment from local manufacturers
Turkey reports over 14 400 COVID-19 cases
Some of children may be taken to Moscow for treatment after school shooting in Kazan
UN chief condemns Kazan school shooting
Gaza block collapses after Israeli strike, rocket hits Tel Aviv building
Kazakhstan supports solution of Palestinian-Israel conflict by peaceful means
Georgia likely to receive Novavax and Johnson & Johnson vaccines in July
Kazakhstan’s liquids production down in March - OPEC
COVID-19 cases decrease in 80 provinces in a week
Iran, Afghanistan discuss Afghan peace process
Israeli PM says to increase strikes against Gaza militants
Arab FMs kick off emergency meeting on Jerusalem tensions
Hamas and Israel step up attacks as Jerusalem unrest ignites Gaza
No need to evacuate people injured in Kazan school shooting to Moscow
Сompetition season of 2021 successfully started - European Gymnastics President
Identification of victims in Kazan school shooting completed
26 COVID-19 patients dead allegedly due to oxygen shortage in India's Goa
Japan's COVID-19 patients in "serious condition" hit fresh record high
Azerbaijani president, first lady express condolences to president of Tatarstan
President Aliyev expresses condolences to Russian counterpart
Iran's Energy Exchange announces products to be on sale on May 12
Bahar Azadi gold coin price continues to rise in Iran
Foreign investors waiting for decision related to FATF in Iran – official
Azerbaijani journalists view State Border Service's Military Hospital in liberated Gubadly (PHOTO)
Demand for OPEC crude in 2021 revised up
Turkish export of electrical goods to Azerbaijan drops
Shares of Kazakhstan's KAZ Minerals delisted from stock exchange
Export Development Bank of Iran to provide loans to startup companies
Data on cargo shipment through Turkish Kocaeli port over 1Q2021 revealed
Kazakhstan reports increase in new housing prices
Azerbaijan's ADIF continues compensating depositors of closed banks
Turkey sees increase in cement exports to Georgia
Cargo movements in Iran’s Shahid Rajaee port increase
OPEC marks increase in Baku-Tbilisi-Ceyhan oil exports
Guaranteed wheat purchasing from farmers in Iran continues
Iran to inaugurate new airport in Kurdistan Province
Iran to build new factory at Amirabad port
OPEC revises up forecasts for Azerbaijan’s liquids supplies in 2021
Azerbaijan reveals number of vaccinated citizens for May 11
Azerbaijan confirms 514 more COVID-19 cases, 1,306 recoveries
Iran reveals COVID-19 data for May 11
Iran’s PMO unveils volume of cargo transportation via Abadan Port
Iran shares unemployment data
Georgia export to Germany increased by 40%
Uzbekistan, Kyrgyzstan eye accelerating implementation of roadmap for industrial co-op
FDA to attract funds to support reforms in Uzbekistan
Uzbek-Chinese JV opens tender for spares for gas pumping units
Iran starts mass production of coronavirus vaccine
Russia boosts steel imports from Turkey
Volume of cargo shipment via Turkish Karabiga port in 1Q2021 revealed
Renewables to account for 90% of total global power capacity increases in 2021-2022
Annual renewable capacity additions reach highest level since 1999
Oil dips as pipeline outage fears ease, India weighs
First batch of Sputnik V vaccine arrived in Azerbaijan just a few days ago, more significant shipments expected later this month - Russian FM
Statements reeking of revanchism, are very dangerous, first of all for Armenian side - President Aliyev
Restriction on movement likely to ease in late May in Georgia
Since end of hostilities, we transferred all prisoners of war - President Aliyev
Azerbaijan shows goodwill in matters related to humanitarian issues - President Aliyev
Post-conflict situation, of course, dictates need for closer contacts at all levels - President Aliyev
Heroization of Nazism in all its forms - unacceptable - Azerbaijan FM
Gaza escalation weighs on shekel
Issue of unblocking transport in region must be prioritized - Azerbaijani FM
Humanitarian issues must be resolved as quickly as possible - Russian FM
Russian FM notes key factor in normalizing situation in Karabakh
Russia highly appreciates work of trilateral group of deputy prime ministers of three countries - Russian FM
Azerbaijan committed to fulfilling its obligations under trilateral agreement - Azerbaijani FM
Nine killed in Kazan school shooting
Second batch of Sputnik V vaccine to be delivered to Azerbaijan by late May - Russian FM
FMs of Azerbaijan, Russia sign plan of consultations for 2021-2022 (PHOTO)
Azerbaijan condemns all terror acts - Azerbaijani FM
Uzbekistan reveals number of vaccinated people
Uzbekistan considers attracting French companies to partake in state assets privatization
Uzbekistan signs memorandum of understanding with French Rothschild & Cie
Uzbekistan reveals numbers of companies with dominant position in market
Uzbekistan taking measures to improve availability of public services
Iran and India trade declines due to COVID-19
Azerbaijani president congratulates Azerbaijani people on Ramadan holiday
Armenian railways are owned by Russian railways, therefore, we are discussing issue mainly with Russian side - President Aliyev
Indian Army sets up 100-bedded hospitals in Faridabad, Chandigarh, Patiala
Indian FY22 growth may slip to 8.2%: Crisil
Twitter Donates $15 Million For COVID-19 Relief In India
President Ilham Aliyev criticizes statements of Canada's, France's MFAs: Let them mind their own business
Startups fight COVID-19: How healthtech startup Meddo is helping tackle the hospital bed crisis
Outpouring of support from US for India, Covid-19 help touches USD half a billion
Zangazur corridor must and will be opened - President Aliyev
PFPA-Musavat duo mobilized all their resources to overthrow Heydar Aliyev in Nakhchivan - President Aliyev
This visit to Nakhchivan has great symbolic meaning - President Aliyev
President Aliyev warns revanchists in Armenia: They shouldn’t play with fire
Military equipment available to Nakhchivan Army today probably superior to equipment of some advanced countries - President Aliyev
All news