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Some 722M manats paid out in compensations in Azerbaijan

Business Materials 30 December 2016 11:42 (UTC +04:00)
Azerbaijan Deposit Insurance Fund (ADIF) paid compensations worth about 721.67 million manats to depositors of Dekabank, Kredobank, Zaminbank, Parabank, Caucasus Development Bank, AtraBank, Bank of Azerbaijan, Ganjabank, Texnikabank and Bank Standard
Some 722M manats paid out in compensations in Azerbaijan

Baku, Azerbaijan, Dec. 30

By Anvar Mammadov – Trend:

Azerbaijan Deposit Insurance Fund (ADIF) paid compensations worth about 721.67 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 Dec. 30.

Below is the list of closed banks and the volume of compensations paid as of Dec. 29:

Banks

Paid compensations (million manats)

Share of paid compensations in total volume of insured deposits (%)

Bank Standard

433.96

98%

Zaminbank

52.46

72%

Dekabank

3.02

96%

Kredobank

27.77

98%

Caucasus Development Bank

1.97

92%

Atrabank

14.27

97%

Bank of Azerbaijan

24.15

97%

Ganjabank

0.98

94%

Texnikabank

120.15

98%

Parabank

42.94

98%

The licenses of all the 10 banks were cancelled this year as they didn’t meet the minimum capital requirement of 50 million manats.

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