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Azerbaijan Deposit Insurance Fund continues compensating depositors of closed banks

Azerbaijan Deposit Insurance Fund continues compensating depositors of closed banks

Economy
18 September 2020, 17:24 75
Azerbaijan Deposit Insurance Fund (ADIF) has paid 529 million manats ($311.1 million) of compensation to 22,343 depositors of the Ata Bank, Amrah Bank, AG Bank, and NBC Bank, Trend reports citing ADIF.
According to the ministry, 3,900 depositors of AG Bank received compensation worth 77.7 million manats ($45.7 million), 3,800 depositors of NBC Bank - 110.9 million manats ($65.2 million), 9,000 depositors of Atabank - 209 million manats ($122.9 million), and 5,500 depositors of Amrah Bank - 131.4 million manats ($77.2 million).
Payments of compensation to depositors of Atabank and Amrah Bank have been carrying out since June 1, 2020, and is paid in non-cash through debit cards of Kapital Bank OJSC, the ADIF noted.

The fund added that payments of compensation to depositors of AG Bank and NBC Bank began on June 16, 2020, and is paid by bank transfer via debit cards of the International Bank of Azerbaijan (IBA) OJSC.
The Central Bank of Azerbaijan (CBA) has earlier revoked the licenses of these banks.