ADIF starts to pay compensation to United Credit Bank depositors

Baku. 20 April. REPORT.AZ/ Azerbaijan Deposit Insurance Fund (ADIF) started to pay compensations to depositors of United Credit Bank liquidated last year.

In parallel, ADIF continues payment of compensations to insured depositors of other 10 liquidated banks.

Thus, insured depositors of Parabank OJSC received – AZN 43.201 mln, Zaminbank OJSC – AZN 54.624 mln, Kredobank OJSC – AZN 27.771 mln, Dekabank OJSC – AZN 3.087 mln, Atrabank OJSC – AZN 14.282 mln, Caucasus Development Bank OJSC – AZN 1.974 mln, Bank of Azerbaijan OJSC – AZN 24.161, Ganjabank OJSC – AZN 976 thousand, Bank Technique OJSC – AZN 120.433 mln, Bank Standard CJSC – AZN 436.667 mln of compensation.

Fund also announced that assigned 1-year terms for payment of compensations to depositors of Bank of Azerbaijan, Ganjabank and Bank Technique expired on January 27, February 4 and February 12 correspondingly. Fulfilment rates of compensation obligations of these banks were accordingly 97%, 94% and 98.2%.

In total, AZN 727.495 mln have been paid to depositors of 11 banks to date.