ADIF reveals compensation paid to depositors of closed banks in Azerbaijan
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By Trend
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)
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