Insured deposits of individuals in Azerbaijani banks reach 1.8 billion manat

The aggregate deposits of physical entities in member-banks of the Azerbaijan Deposit Insurance Fund (ADIF) in the third quarter of this year reached 2.707 billion manat. Uninsured deposits amounted to 929.96 million manat, with insured deposits reaching 1.777 billion manat.

The number of insured depositors amounted to 5.293 million people during the reporting period. Calendar payments made during the third quarter of this year by 43 member banks amounted to 940,000 manat, $1.353 million and 180,000 euro. The fund's insurance reserves amounted to 29.973 million manat in the third quarter.

The deposits, placed in ADIF member banks with an annual interest rate exceeding 12%, have not been insured by the fund since June 1. The payment of compensations is not envisaged.

At present, the maximal level of insurance coverage for the deposits is 30,000 manat. Investors do not make any payments to insure their deposits. Insurance payments are made only by banks.


/Trend/