ADIF paying compensations for closed banks
By Nigar Abbasova
Azerbaijan Deposit Insurance Fund (ADIF) has so far paid compensations worth over 725.53 million manats ($418.13 million) to depositors of the recently closed Dekabank, Kredobank, Zaminbank, Parabank, Caucasus Development Bank, AtraBank, Bank of Azerbaijan, Ganjabank, Texnikabank and Bank Standard.
|
Banks |
Volume of paid compensations (million manats/ million USD) |
Volume of the insured deposits (million manats/ million USD) |
|
Bank Standard |
435.313 ($250.872) |
460 ($265.1) |
|
Zaminbank |
54.356 ($31.325) |
60 ($34.57) |
|
Dekabank |
3.086 ($1.778) |
5.59 ($3.22) |
|
Kredobank |
27.771 ($16.05) |
30.21 ($ 17.41) |
|
Caucasus Development Bank |
1.974 ($1.137) |
2 ($1.15) |
|
Atrabank |
14.280 ($ 8.229) |
14.55 ($8.38) |
|
Bank of Azerbaijan |
24.161 ($13.924) |
24.2 ($13.94) |
|
Gandjabank |
0.976 ($ 0.562) |
1 ($0.57) |
|
Texnikabank |
120.433 ($69.405) |
122.6 ($70.65) |
|
Parabank |
43.175 ($24.881) |
43.79 ($25.23) |
The licenses of all the banks were revoked in 2016, as their assets were not classified in line with the law, and they didn’t create adequate reserves and their aggregate capital did not meet the minimum requirements.
Some 32 banks are currently implementing their activities in the country.
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