Payment of compensations to closed Azerbaijani banks' depositors ongoing

Finance Materials 8 January 2021 12:26 (UTC +04:00)
Payment of compensations to closed Azerbaijani banks' depositors ongoing

BAKU, Azerbaijan, Jan.8

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 616.27 million manat ($362.51 million) as of January 7, 2021, Trend reports citing the report of the Azerbaijan Deposit Insurance Fund (ADIF).

According to the ADIF, 9,695 AtaBank depositors received compensation in the amount of over 241.8 million manat ($142.24 million), 5,747 Amrahbank depositors – nearly 140 million manat ($82.35 million), 4,600 AGBank depositors – 109.45 million manat ($64.38 million) and 4,150 NBC Bank depositors received compensation worth over 125.6 million manat ($73.88 million).

Payment of compensation to depositors of AtaBank and Amrahbank has been 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 Jan.8)


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