Premium Bank gets 74% decline in profit

As of April 1, 2019 the Premium Bank’s assets stood at AZN 654.123 million, up 32.7% from the previous year.

Bank says the loans issued to customers amounted to AZN 588.035 million of assets. The loan portfolio extended by 47% year-on-year.

Liabilities rose by 42.2% to AZN 516.815 million, deposit portfolio surged by 43.2% to AZN 465.049 million, liabilities to the Central Bank of Azerbaijan soared 28.6% to AZN 22.5 million, total capital increased by 6% to AZN 137.309 million.

Interest incomes grew by 47.1% to AZN 10.948 million, interest expenditures ascended by 39.4% to AZN 4.653 million, non-interest incomes advanced 4.5% to AZN 4.745 million, non-interest expenditures climbed 19.4% to AZN 8.4 million, allocations for special reserves on compensation of possible losses on assets fell by 96.3% to AZN 375,000. Consequently, the bank ended the first quarter of 2019 on AZN 3,015,000 in profit, down 74.2% from the previous year.

Premium bank was established in 1993 as AZAL Bank and rebranded in 2008. Its authorized capital is AZN 104.601 million.