In accordance with the report of the Azerbaijan Deposit Insurance Fund (ADIF), the compensation on the insured deposits worth 517.1 million manat ($304.2 million) was paid to the depositors of the closed AtaBank, Amrahbank, NBC Bank and AGBank as of September 11, 2020, Trend reports on Sept. 11 citing ADIF.
Some 8,940 depositors of AtaBank received compensation in the amount of 206.7 million manat ($121.6 million), 5,400 depositors of Amrahbank - 129.7 million manat ($76.3 million), 3,800 depositors of AGBank - 70.9 million manat ($41.7 million) and 3,700 depositors of NBC Bank - 109.8 million manat ($64.6 million), ADIF said.
The non-cash compensation has been paid to the depositors of AtaBank and Amrahbank since June 1, 2020 through the debit cards of Kapital Bank OJSC.
The International Bank of Azerbaijan OJSC (IBA) is the agent bank through 20 branches to issue compensations on the insured deposits in AGBank OJSC and NBC Bank OJSC.
The Central Bank of Azerbaijan (CBA) made a decision to cancel the licenses of four banks - AtaBank, Amrahbank, AGBank and NBC Bank, and all four banks were declared bankrupt.
(1 USD = 1.7 AZN on Sept. 12)
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