This bank’s deposit portfolio steadily declines

11:42 - 17.04.2024

April 17, Fineko/ Premium Bank has published a report stating that the bank has shrunk.

ABC.AZ reports that however, the problem in Premium Bank is not in loans, but in deposits.

Bank's deposit portfolio is steadily declining – after the reforms in the aviation sector, this process has become stable.

As a result, by the end of Q1 of 2024, Premium Bank’s total liabilities lowered by another 12 million manats from 507 million to 495 million manats. The drop is linked with the deposit portfolio - deposits of individuals decreased almost by 4 million manats. Companies withdrew 7 million manats from the bank — deposits of legal entities fell from 96 million to 89 million manats.

In addition, Premium Bank has obligations to the Central Bank and state funds in the amount of 67.8 million manats.