Azerbaijan Deposit Insurance Fund reserves exceed 27mln manat

Total deposits of individuals to the member-banks of the Azerbaijan Deposit Insurance Fund (ADIF) amounted to 2.484 billion manat in the second quarter, of which 818,577 million manat was not insured, whil 1.665 billion manat was insured, the Fund said.

The number of insured deposits during the reported period totaled 5,277, 283.

The calendar payments made by the 43 member banks in the second quarter totaled 866,000 manat, $1.299 million and ˆ175,000.   

The fund's insurance reserves amounted 27.31 million manat in the second quarter.

Since June 1, 2010, the deposits in ADIF member banks at an annual interest rate of over 12 percent are not insured by the Fund. Currently, the maximum level of insurance coverage for the deposit is 30,000 manat. For the insurance of their deposits, the individuals do not make any payments, insurance payments are made only by banks.


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