ADIF reveals compensation paid to depositors of closed banks in Azerbaijan

10 January 2019 16:39 (UTC+04:00)

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As of Jan.1, 2019, Azerbaijan Deposit Insurance Fund (ADIF) paid compensations worth about 824.3 million manats to depositors of Parabank, Zaminbank, Dekabank, Kredobank, Caucasus Development Bank, AtraBank, Bank of Azerbaijan, Ganjabank, Texnikabank, United Credit Bank, Royal Bank, DemirBank and Bank Standard, Trend reports with reference to the Fund.

Below is the list of closed banks and the volume of compensations paid as of Jan. 1:

Banks	Paid compensations (million manats)	Share of paid compensations in total volume of insured deposits (%)
Parabank	43.2	98
Zaminbank	72.5	99
Kredobank	27.9	99.6
Dekabank	3.1	99
Atrabank	14.4	98
Caucasus Development Bank	2	96
Bank Standard	438.6	99
United Credit Bank	1.8	88
Bank of Azerbaijan	24.2	97
Ganjabank	0.98	94
Texnikabank	120.4	98
Demirbank	61.98	98
Royal Bank	13.2	89

The Azerbaijan Deposit Insurance Fund has been operating since August 13, 2007.
The upper limit of the annual interest rate on insured deposits of individuals in foreign currency is 3 percent. The maximum interest rate on individuals’ manat deposits covered by insurance is 15 percent.
(1 USD = 1.7 AZN on Jan. 10)