ADIF pays over 590M manats to Azerbaijani banks' depositors

Baku, Azerbaijan, Oct. 25

By Anvar Mammadov – Trend:

The Azerbaijan Deposit Insurance Fund (ADIF) has paid compensations worth more than 590.13 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. 25.

Below is the list of closed banks and the volume of compensations paid as of morning Oct. 25:

The licenses of all the 10 banks were cancelled this year as their aggregate capitals didn’t meet the minimum requirement of 50 million manats. In general, they haven’t fulfilled the regulator’s instructions.