Depositors of Azerbaijani closed banks continue to receive compensation

By Trend

The Azerbaijan Deposit Insurance Fund (ADIF) has paid 523 million manats ($307.6 million) worth of compensation to 22,267 depositors of the Ata Bank, Amrah Bank, AG Bank, and NBC Bank, Trend reports citing the ADIF.

According to ADIF, 3,900 depositors of AG Bank received compensation worth 73.1 million manats ($43 million), 3,800 depositors of NBC Bank - 110.7 million manats ($65.1 million), 9,000 depositors of Atabank - 208.5 million manats ($122.6 million), and 5,500 depositors of Amrah Bank - 131.3 million manats ($77.2 million).

Payments of compensation to depositors of Atabank and Amrah Bank have been carrying out since June 1, 2020, and is 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 liquidated the licenses of these banks.

(1 USD = 1.7 AZN on Sept. 17)