Premium Bank earns AZN 7M in nine months 

Azerbaijan-based Premium Bank OJSC ended the January-September period with AZN 6.999 million in profit, Report informs.

This figure was AZN 7.65 million in the same period of 2020.

Revenues fell by 6.8% to AZN 34.898 million, expenditures surged 6.1% to AZN 35.846 million, savings on allocations for special reserves soared 53.1% to AZN 7.946 million. The bank did not pay profit tax in the reporting period.

As of October 1, 2021, the assets stood at AZN 655.451 million, down 2.2% from a year earlier. Of this, AZN 504.499 million was loans to customers. The loan portfolio extended by 10.6% year-on-year.

Liabilities dropped 3.5% to AZN 468.435 million, deposit portfolio slipped 0.6% to AZN 428.545 million, net worth climbed 1.1% to AZN 187.016 million.

Premium Bank was established in 1993 as AZAL Bank. It was renamed Silk Way Bank in 2008 and Premium Bank in 2018.