04 Feb. 2016

Compensation to depositors of “Ganjabank” OJSC will be paid by “Rabitabank” OJSC!

“Rabitabank” OJSC was chosen agent bank by the Deposit Insurance Fund on 04th day of February for paying compensation for insured deposits to the depositors of “Ganjabank” OJSC.

“Rabitabank” OJSC is going to pay compensation for insured deposits of the depositors having deposits in Ganja and Shamkir branches or divisions of “Ganjabank” OJSC through its branches situated in Ganja and Shamkir. 

Clients have to visit Ganja or Shamkir branches of “Rabitabank” OJSC, submit deposit (bank account) agreement, deposit book (or any other document confirming deposit in compliance with the legislation) and ID Card and make a written application to the Fund in order to get compensation for the insured deposit. 

A depositor may apply to Rabitabank by a written application within a year from the day of the first publication of the notification about compensation (in this case February 03, 2016). If a depositor submits documents confirming the cases making his/her application for compensation impossible during the established period, the period of application may be extended, provided that the period is not more than five years from the first publication of the notification. 

It should be mentioned that “Rabitabank” OJSC was chosen agent bank by the Deposit Insurance Fund on 29th day of January for paying compensation for insured deposits to the depositors of “Bank of Azerbaijan”. Nakhchivan division of Rabitabank, located in Nakhchivan Autonomous Republic continues compensation payments for insured deposits to the clients of “Bank of Azerbaijan”. 

“Rabitabank” OJSC has kept its position among big banks of the country and established service network consisting of 22 branches and 1 division during the period of activity covering 22 years. 

Deposits of “Rabitabank” grew 31% and reached to AZN 322 million, total capital grew up to 17% and reached to AZN 67 million and assets grew up to 25% and reached to AZN 451 million in the end of 2015. Additionally, the bank ended the year of 2015 by profit amounting to AZN 2.32 million. The bank is going to step forward its targets more confidently and strengthen its position during the current year. 


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