...

Depositors of bankrupt Azerbaijani banks get over 527M manats

Business Materials 21 October 2016 11:17 (UTC +04:00)
Azerbaijan Deposit Insurance Fund (ADIF) paid compensations worth around 527.26 million manats to depositors of Dekabank, Kredobank, Zaminbank, Parabank, Caucasus Development Bank, AtraBank, Bank of Azerbaijan, Ganjabank, Texnikabank and Bank Standard, ADIF said in a message Oct. 21.
Depositors of bankrupt Azerbaijani banks get over 527M manats

Baku, Azerbaijan, Oct. 21

By Anvar Mammadov – Trend:

Azerbaijan Deposit Insurance Fund (ADIF) paid compensations worth around 527.26 million manats to depositors of Dekabank, Kredobank, Zaminbank, Parabank, Caucasus Development Bank, AtraBank, Bank of Azerbaijan, Ganjabank, Texnikabank and Bank Standard, ADIF said in a message Oct. 21.

Below is the list of closed banks and the volume of obtained compensations as of morning Oct. 21:

Banks

Paid compensations (million manats)

Insured deposits (million manats)

Bank Standard

261.62

460

Zaminbank

50.98

60

Dekabank

2.85

5.59

Kredobank

18.07

30.21

Caucasus Development Bank

1.88

2

Atrabank

14

14.55

Bank of Azerbaijan

24.09

24.2

Ganjabank

0.97

1

Texnikabank

119.98

122.6

Parabank

32.82

43.79

Acceptance of applications from insured depositors of DekaBank, KredoBank, Zaminbank and Parabank began Aug. 1, 2016 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. Clients of Atrabank can receive compensations in the branches the deposits were placed in. However, those who concluded the contract in the Khazar branch must approach 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 at ADIF’s office.

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

Payment of compensations to insured depositors of Bank Standard started Oct. 11, 2016 at the bank’s main office and its branches in the regions of Azerbaijan and will continue for one year.

Depositors of Texnikabank can receive compensations since Feb. 12 at ADIF’s office.

The licenses of all the ten banks were cancelled during 2016 as the aggregate capital of these banks didn’t meet the minimum requirements [50 million manats]. In general, they haven’t fulfilled the regulator’s instructions.

Tags:
Latest

Latest