Deposits in 19 liquidated banks in Azerbaijan valued at over 2B manats

The total deposit value in 19 liquidated banks in Azerbaijan amounted to 2.364 billion manats, Aygun Baliyeva, Deputy Director of the Finance Department of the Azerbaijani Deposit Insurance Fund, said at the Dialogue and Cooperation Forum organized on the occasion of National Press Day, Report informs.

According to her, there were a total of 651,768 depositors in 19 banks undergoing liquidation.

"The total deposit volume amounted to 2,364,255,000 manats. Compensation payments were made to 63,888 depositors. Of the total deposits, 1,761,564,000 manats were protected, meaning insured and subject to compensation. Of this amount, 1,729,887,000 manats were paid to depositors, representing 98%," she noted.

According to Baliyeva, when assessing the total number of depositors, it should be taken into account that 518,000 clients had account balances of 1 manat or less.

"Therefore, although the total number of depositors appears high, the number who received payments is comparatively small. The main reason is that these 518,000 depositors had accounts with only 1 manat or less," she explained.

($1=1.7 manats)