Credit debts to be returned to Bank Standard revealed

14:22 - 25.09.2019


September 25, Fineko/abc.az. As it was reported, AZN 70 million in once issued loans was returned to Bank Standard, being in the process of liquidation, yesterday. Given that this is a small amount paid to the bank within 3 years, it means that there are significant loans that have not yet been repaid.

In connection with this issue, the former chairman of the committee of creditors Akram Hasanov told ABC. AZ that the bank’s debt amounted to AZN 800 million and of this amount AZN 70 million were returned. Hasanov, who calls this fact a disgrace, blames the Deposit Insurance Fund for this: “It simply means that the Deposit Insurance Fund, which liquidated the bank, cannot cope with its obligations. Naturally, the Fund must collect loans issued so that the money left there will be returned to both individuals and legal entities. I remember that there remained AZN 157 million owned by individuals. And legal entities had more than AZN 400 million. At the same time, the bank itself also has a debt to the Fund in the amount of AZN 460 million. Along with this, the Central Bank's debt in the amount of AZN 154 million remained. In total, the bank's debt amounted to AZN 1,200,000,000. Naturally, the delay in repayment of loans is observed not only in Bank Standard, but also in other banks that are in the process of liquidation. And this creates serious obstacles to the return of deposits, and the main problem is the Deposit Insurance Fund, which liquidates the bank. That is, the Fund conducts this process opaque and illegally. It doesn’t even provide creditors with a list of court cases against creditors.”

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