Depositors of bankrupt banks receive almost 950,000 manats in Azerbaijan

Azerbaijan Deposit Insurance Fund (ADIF) paid compensations worth 949,990 Azerbaijani manats to depositors of Dekabank, Kredobank, Zaminbank and Parabank, said ADIF message Aug. 2.

Accepting of applications from insured depositors of the four banks began from Aug. 1, 2016, and the payment of compensations has been carried out since the same day. The volume of insured deposits in those banks is 110.71 million manats.

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

Over the past day, Parabank’s depositors received 561,530 manats of the compensations’ total volume worth 43.79 million manats, and Zaminbank’s depositors received 199,830 manats out of 36.35 million manats.

The volume of compensations paid to Dekabank’s depositors on Aug. 1 was 123,370 manats out of the payments’ total volume worth 5.59 million manats. Kredobank’s depositors received compensations in the amount of 65,270 manats of the compensations’ total volume worth 30.21 million manats.

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

Source: Trend News Agency