Compensation of closed Azerbaijani banks ongoing

By Trend

The Azerbaijan Deposit Insurance Fund (ADIF) paid compensations worth 534 million manat ($314.1 million) to 22,581 depositors of the closed banks - Ata Bank, Amrah Bank, AG Bank, and NBC Bank, Trend reports referring to ADIF.

According to the information, 4,000 depositors of AG Bank received 78.3 million manat ($46 million), 3,800 depositors of NBC Bank - 112.8 million manat ($66.3 million), 9,000 depositors of Atabank - 211.1 million manat ($124.1 million), and 5,500 depositors of Amrah Bank received 131.8 million manat ($77.5 million).

Payments of compensation to depositors of Atabank and Amrah Bank are carried out from June 1, 2020, and are paid in non-cash form through debit cards of Kapital Bank OJSC.

Payments of compensation to depositors of "AG Bank" and "NBC Bank" began on June 16, 2020, and are paid in non-cash form through debit cards of the International Bank of Azerbaijan (IBA) OJSC.

(1 USD = 1.7 AZN on Sept. 24)