Feb 21, 2014

 

Board of Custodians of Azerbaijan Deposit Insurance Fund has discussed the reslts of III quarter on October 28, 2013.

During the III quarter of  2013, total amount of  private individuals deposits have been increased by 213 mln (3.8%) manat and reached the amount of 5 831 mln. manat

In the III quarter 34% (1.97 bln. manat) and  66% (3.87 bln. manat) of total amount of private individuals deposits (5.8 bln. manat) are non-protected and protected deposits respectively.

Amount of compensated deposits have been increased by 91 mln. manat (5%) reaching amount of 1 904 mln. manat which is the 47.5 % of protected deposits.

59%, 37% and 4% of protected deposits are in Manats, USD dollars and EUROs respectively.

Memmbers banks provided the service to the 5 306 497 depositors while 4,899,375   (93%) of them are protected depositors.

In a present time the total amount of Fund’s insurance reserve are 64,7 mln. manat and total amount of assets are 66,9 mln. manat.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

The reserves of ADIF are regulated by the Investment Policy of ADIF. Part of resource of Azerbaijan Deposit Insurance Fund amounted 58 mln AZN are kept as bonds with the 4.4% annual profit and 5.0 mln AZN are trusted to “Deutsche Asset Management International”.

Attention!!! Beginning form August 1, 2013 the maximum annual percentage limit for protected deposits will be 10% and deposits with a higher annual percentage rate will not be protected and compensated by the Fund. This law is not applied to the deposits that were accepted by banks before August 1, 2013.

Compensated amount for each protected depositor during insurance event are max. 30 000 AZN.