Over 83% of deposits returned to customers of bankrupted Royal Bank

Over 83% of deposits returned to customers of bankrupted Royal Bank As of 1 October 2012 the depositors of the bankrupted Royal Bank received compensations in the amount of AZN 12,262,000. According to sources in the Azerbaijan Deposit Insurance Fund, this makes over 83.3% of the total amount of payments subject to compensations which equals AZN 14,718,000. “Meanwhile, the deposits in the amount of AZN 26,731,000 have been insured. Thus,... Read More

Central Bank of Azerbaijan Moves to Strict Measures

Central Bank of Azerbaijan Moves to Strict Methods Central Bank of Azerbaijan (CBA) applies harden requirement in banking sector after bankruptcy of Royal Bank, one of top banks in Azerbaijan.  CBA increased up amount of minimum volume of total capital for to AZN 50 million ($ 64,1 million) from AZN 10 million ($  12,4 million) . The new standard on the minimum volume of total capital comes into force from 01 January 2014, the Central Bank. “This... Read More