ADIF reveals amount of —Āompensations made to depositors of closed banks

23 September 2020 17:37 (UTC+04:00)

By Trend

Azerbaijan Deposit Insurance Fund (ADIF) has paid 533 million manat ($313.5 million) of compensations to 22,522 depositors of the Ata Bank, Amrah Bank, AG Bank, and NBC Bank, Trend reports citing ADIF.

According to the fund, 4,000 depositors of AG Bank received compensation worth 78.1 million manat ($45.9 million), 3,800 depositors of NBC Bank – 112.6 million manat ($66.2 million), 9,000 depositors of Atabank – 210.7 million manat ($123.9 million), and 5,500 depositors of Amrah Bank - 131.6 million manat ($77.4 million).

Payments of compensation to depositors of Atabank and Amrah Bank have been carrying out since June 1, 2020, and are paid in non-cash through debit cards of Kapital Bank OJSC, the ADIF noted.

The fund added that payments of compensation to depositors of AG Bank and NBC Bank began on June 16, 2020, and is paid by bank transfer via debit cards of the International Bank of Azerbaijan (IBA) OJSC.

The Central Bank of Azerbaijan (CBA) has earlier revoked the licenses of these banks.

(1 USD = 1.7 AZN on Sept. 23)

--

Follow us on Twitter @AzerNewsAz