Deposit Insurance Fund posts 15% growth in assets

As of December 31, 2023, the total assets of the Azerbaijan Deposit Insurance Fund (ADIF) stood at 651.4 million manats (approx. $384.3 million).

According to ADIF’s audited financial report, prepared by the international auditing firm KPMG, this marks a 15% increase compared to figures from December 31, 2022.

Meanwhile, the Fund’s total liabilities rose by 53%, reaching 448.4 million manats (approx. $264.6 million) in 2023. Notably, liabilities related to compensation payments surged nearly ninefold, climbing to 200.3 million manats (approx. $118.2 million).

However, total equity dropped by 25.7%, amounting to 203 million manats (approx. $120.1 million) by the end of the year.