Clients of Azerbaijani closed banks continue receiving compensations

Finance Materials 18 December 2020 11:18 (UTC +04:00)
Clients of Azerbaijani closed banks continue receiving compensations

BAKU, Azerbaijan, Dec. 18

By Zeyni Jafarov – Trend:

The depositors of the closed Azerbaijani banks, AtaBank, Amrahbank, NBC Bank, and AGBank, were paid compensation for insured deposits worth over 614.2 million manat ($361.2 million) as of December 17, 2020, Trend reports citing the report of the Azerbaijan Deposit Insurance Fund (ADIF).

According to the ADIF, 9,674 AtaBank depositors received compensation in the amount of 241.2 million manat ($141.8 million), 5,727 Amrahbank depositors - more than 138.7 million manat ($81.5 million), 4,550 AGBank depositors - 109 million manat ($64.1 million) and 4,100 NBC Bank depositors received compensation worth over 125.3 million manat ($73.7 million).

Payment of compensation to depositors of AtaBank and Amrahbank is carried out from June 1, 2020, and is paid in a non-cash manner through debit cards of Kapital Bank OJSC.

The agent bank through 20 branches for issuing compensations for insured deposits in AGBank OJSC and NBC Bank OJSC is International Bank of Azerbaijan OJSC (IBA). Payments to clients of these banks have been carried out since June 16, 2020.

To remind, the Central Bank of Azerbaijan made a decision to annul the licenses of four banks - AtaBank, Amrahbank, AGBank, and NBCBank, and all of them were declared bankrupt.

(1 USD = 1.7 manat on Dec. 18)


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