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Depositors of closed Azerbaijani banks continue receiving compensations

23 March 2021 16:15 (UTC+04:00)
Depositors of closed Azerbaijani banks continue receiving compensations

By Trend

The compensation on insured deposits worth over 628.3 million manat ($369.5 million) was paid to the depositors of the closed AtaBank, Amrahbank, NBC Bank, and AGBank, Trend reports referring to Azerbaijan Deposit Insurance Fund (ADIF).

According to ADIF, 9,790 AtaBank depositors received compensation in the amount of 243.8 million manat ($143.4 million); 5,800 Amrahbank depositors – over 140 million manat ($82.3 million); 4,700 AGBank depositors – nearly 113.2 million manat ($66.5 million) and more than 4,220 NBC Bank depositors received compensation in the amount of nearly 131.3 million manat ($77.2 million).

The compensations have been paid to depositors of AtaBank and Amrahbank since June 1, 2020, in non-cash form through debit cards of Kapital Bank OJSC.

The International Bank of Azerbaijan OJSC (IBA) is the agent bank through 20 branches for issuance of compensations on insured deposits in AGBank OJSC and NBC Bank OJSC. The compensations have been paid to the customers of these banks since June 16, 2020.

Earlier, the Central Bank of Azerbaijan made a decision to cancel the licenses of four banks, namely, AtaBank, Amrahbank, AGBank, and NBC Bank, all of which were declared bankrupt.

(1 USD = 1.7 AZN on Mar.23)

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