Depositors of bankrupt Azerbaijani banks receive 31M manats

The Azerbaijan Deposit Insurance Fund (ADIF) paid compensations worth over 31 million Azerbaijani manats to depositors of DekaBank, Kredobank, Zaminbank and Parabank, ADIF said in a message Aug. 10.

Acceptance of applications from insured depositors of the four banks began Aug. 1, and the payment of compensations has been carried out since that day. The insured deposits in those banks total 110.71 million manats.

Payments are being carried out at the branches of those closed banks.

As of Aug. 9, depositors of Parabank and Zaminbank received 12.2 and 13.8 million manats out of the total compensations of 43.79 million manats and 36.35 million manats, respectively.

The compensations paid to Dekabank’s depositors amounted to more than 1.6 million manats out of the payments’ total volume of 5.59 million manats.

Kredobank’s depositors received compensations worth almost 3.4 million manats out of the compensations’ total volume of 30.21 million manats.

The licenses of DekaBank, KredoBank, Parabank and Zaminbank were cancelled in accordance with the decision of the Financial Market Supervisory Body, dated July 21, 2016.

Source: Trend News Agency