TODAY.AZ / Business

ADIF paying compensations for closed banks

21 February 2017 [15:46] - TODAY.AZ

By Azernews


By Nigar Abbasova

Azerbaijan Deposit Insurance Fund (ADIF) has so far paid compensations worth over 725.53 million manats ($418.13 million) to depositors of the recently closed Dekabank, Kredobank, Zaminbank, Parabank, Caucasus Development Bank, AtraBank, Bank of Azerbaijan, Ganjabank, Texnikabank and Bank Standard.

 

Banks 

Volume of paid compensations

 (million manats/ million USD)

Volume of the insured  deposits

 (million manats/ million USD)

Bank Standard

435.313 ($250.872)

460 ($265.1)

Zaminbank

54.356 ($31.325)

60 ($34.57)

Dekabank

3.086 ($1.778)

5.59 ($3.22)

Kredobank

27.771 ($16.05)

30.21 ($ 17.41)

Caucasus Development Bank

1.974 ($1.137)

2 ($1.15)

Atrabank

14.280 ($ 8.229)

14.55 ($8.38)

Bank of Azerbaijan

24.161 ($13.924)

24.2 ($13.94)

Gandjabank

0.976 ($ 0.562)

1 ($0.57)

Texnikabank

120.433 ($69.405)

122.6 ($70.65)

Parabank

43.175 ($24.881)

43.79 ($25.23)

 

 

 

The licenses of all the banks were revoked in 2016, as their assets were not classified in line with the law, and they didn’t create adequate reserves and their aggregate capital did not meet the minimum requirements.

Some 32 banks are currently implementing their activities in the country.

URL: http://www.today.az/news/business/158824.html

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