Azerbaijan Deposit Insurance Fund discloses amount of compensations to depositors of closed banks
BAKU, Azerbaijan, Feb. 21
By Zeyni Jafarov - Trend:
The compensation on insured deposits worth over 623.3 million manat ($366.6 million) was paid to the depositors of the closed AtaBank, Amrahbank, NBC Bank and AGBank in accordance with the report of the Azerbaijan Deposit Insurance Fund (ADIF), Trend reports citing ADIF.
Some 9,755 AtaBank depositors received compensation in the amount of 242.9 million manat ($142.9 million); 5,794 Amrahbank depositors - about 140 million manat ($82.3 million); 4,670 AGBank depositors - over 111 million manat ($65.3 million) and about 4,200 NBC Bank depositors received compensation in the amount of over 129.2 million manat ($76 million).
The compensations have been paid to depositors of AtaBank and Amrahbank since June 1, 2020 in non-cash form through debit cards of Kapital Bank OJSC.
The International Bank of Azerbaijan OJSC (IBA) is the agent bank through 20 branches for issuance of compensations on insured deposits in AGBank OJSC and NBC Bank OJSC. The compensations have been paid to the customers of these banks since June 16, 2020.
Earlier, the Central Bank of Azerbaijan made a decision to cancel the licenses of four banks, namely, AtaBank, Amrahbank, AGBank and NBC Bank, all of them were declared bankrupt.