The volume of non-performing loans at Premium Bank, which began operations in 1994 as Joint-Stock Commercial Bank AZAL and subsequently changed its name twice, first to Silk Road Bank OJSC and now to Premium Bank OJSC, has increased sharply.
According to Yeniavaz.com, at the end of the first quarter of this year, Premium Bank OJSC's non-performing loans amounted to 19,957,000 manat.
Of this amount, 2,341,000 manat were non-performing loans (with maturities exceeding 30 days).
For comparison, at the end of the first quarter of last year, Premium Bank OJSC's non-performing loans were 39.3% lower than this year. In the first quarter of last year, the bank's non-performing loans totaled 1,421,000 manat.
It should also be noted that, compared to the same period last year, at the end of the first quarter of this year, retail deposits at Premium Bank decreased by 2.5%, or 7.933 million manat, while corporate deposits decreased by 23.2%, or 19.309 million manat.
It should be noted that over the past four years, deposits placed by legal entities at Premium Bank have been steadily declining. Thus, corporate deposits at Premium Bank amounted to 191 million manat in 2021, 125.8 million manat in 2022, 95.9 million manat in 2023, and 85.7 million manat in 2024.
For information, the main shareholder of Premium Bank was Zarifa Khamzayeva, the wife of former AZAL President Jahangir Askerov. Since Zarifa Khamzayeva died last year, her shares were transferred to her husband, Jahangir Askerov. According to the latest data, she owned 84.47% of the bank's shares. The bank's authorized capital is 174,601,350 manat, of which 147,485,760 manat belongs to Jahangir Askerov.
Elnur Ali
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