Azerbaijani Atrabank’s assets valued at 14M manats
Baku, Azerbaijan, May 17
By Anvar Mammadov – Trend:
The Azerbaijan Deposit Insurance Fund (ADIF) plans to receive 14 million manats from the sale of assets of Atrabank, which is being liquidated, Azad Javadov, the Fund’s executive director, told reporters in Baku.
He said this is the estimated value of the bank’s assets, while the total cost of Atrabank’s assets is 37 million manats.
The volume of Atrabank’s loan portfolio is 71.4 million manats, Javadov noted.
“In this loan portfolio, there are 2,983 active loan agreements worth 70 million manats,” Javadov said. “In addition, the bank has 63 loan agreements worth 692,000 manats on standard conditions, and there are 14 unsecured loan agreements among them.”
The Financial Market Supervisory Authority of Azerbaijan revoked Atrabank’s license on January 27, 2016.
ADIF has been the bank’s liquidator since August 16, 2016.