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ADIF pays about 747M manats in compensations to banks’ depositors

12 October 2017 15:24 (UTC+04:00)
ADIF pays about 747M manats in compensations to banks’ depositors

The Azerbaijan Deposit Insurance Fund (ADIF) has paid compensations worth over 747.937 million Azerbaijani manats to depositors of Parabank, Zaminbank, Dekabank, Kredobank, Caucasus Development Bank, Atrabank, Bank of Azerbaijan, Ganjabank, Texnikabank, United Credit Bank and Bank Standard, ADIF said in a message on October 12.

Below is the list of closed banks and the volume of compensations paid as of Oct. 12:

Banks

Total deposits (million manats)

Insured deposits (million manats)

Compensated deposits (million manats)

Paid compensations (million manats)

Share of paid compensations in total insured deposits (%)

Unpaid compensations (million manats)

Parabank

87.601

50.714

43.885

43.222

98.5

0.662

Zaminbank

77.116

75.574

72.675

72.196

99.3

0.479

Kredobank

30.191

29.159

27.91

27.914

99.9

0.122

Dekabank

5.36

3.684

3.127

3.088

98.7

0.039

Atrabank

31.024

26.995

14.614

14.35

98.2

0.263

Caucasus Development Bank

11.996

6.617

2.09

2.004

95.8

0.086

Bank Standard

596.499

554.593

441.154

437.745

99.2

3.413

United Credit Bank

3.55

3.23

2.099

1.837

87.5

0.263

Bank of Azerbaijan

124.732

122.366

24.937

24.191

97

0.746

Ganjabank

3.177

1.553

1.039

0.976

93.9

0.063

Texnikabank

163.154

161.796

122.642

120.458

98.2

2.183

The licenses of all 11 banks were cancelled as their aggregate capitals didn’t meet the minimum requirement of 50 million manats. In general, they haven’t fulfilled the regulator’s instructions.

(1.7003 AZN = 1 USD on October 12)

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