Azerbaijan shares data on compensations paid to depositors of closed banks
By Trend
The depositors of the closed Azerbaijani banks, AtaBank, Amrahbank, NBC Bank, and AGBank, were paid compensation for insured deposits worth over 615.2 million manat ($361.8 million) as of December 24, 2020, Trend reports citing the report of the Azerbaijan Deposit Insurance Fund (ADIF).
According to the ADIF, 9,685 AtaBank depositors received compensation in the amount of over 241.72 million manat ($142.2 million), 5,734 Amrahbank depositors - more than 138.8 million manat ($81.65 million), 4,570 AGBank depositors – 109.17 million manat ($64.2 million) and 4,100 NBC Bank depositors received compensation worth over 125.43 million manat ($73.78 million).
Payment of compensation to depositors of AtaBank and Amrahbank has been carried out from June 1, 2020, and is paid in a non-cash manner through debit cards of Kapital Bank OJSC.
The agent bank through 20 branches for issuing compensations for insured deposits in AGBank OJSC and NBC Bank OJSC is International Bank of Azerbaijan OJSC (IBA). Payments to clients of these banks have been carried out since June 16, 2020.
To remind, the Central Bank of Azerbaijan made a decision to annul the licenses of four banks - AtaBank, Amrahbank, AGBank, and NBCBank, and all of them were declared bankrupt.
(1 USD = 1.7 manat on Dec. 25)
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