Over half a billion manats of compensation given – News about closed banks


September 15, Fineko/abc.az. As of 14 September the Azerbaijan Deposit Insurance Fund (ADIF) paid more than AZN 519 million to 22,126 depositors of the closed banks AG Bank, Amrah Bank, NBC Bank and Ata Bank.

ABC.AZ reports with reference to the ADIF that in the period from 16 June to 14 September 2020 the International Bank of Azerbaijan paid over AZN 182.17 million of compensation to depositors of AG Bank and NBC Bank.

Compensations in the total amount of AZN 71.66 million were paid to 3,878 depositors of AG Bank and AZN 110.50 million to 3,802 depositors of NBC Bank. From 1 June to 14 September Kapital Bank paid more than AZN 337.28 million to depositors of Amrah Bank and Ata Bank, which are in the process of liquidation.

The amount of compensation paid to 5,479 depositors of Amrah Bank for the reporting period amounted to AZN 129.9 million and payments to 8,967 depositors of Ata Bank – AZN 207.35 million. The ADIF is finishing payment of compensations to depositors on the last closed banks.

The full payment process will be ended as soon as possible in accordance with the procedure established by law.