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BAKU, Azerbaijan, February 26. The Central Bank
of Azerbaijan (CBA) has ordered Premium Bank OJSC to take measures
to improve internal procedures, Trend reports via the Azerbaijani
Central Bank.
“The decision was taken owing to a violation of Article 47 of
the Banks Law. The report submitted to the Central Bank at the end
of January revealed that, due to incorrect calculation of the
liquidity coverage ratio in foreign currency, the requirement to
keep this indicator above the established threshold defined in
paragraph 7.2 of the “Procedure of Liquidity Risk Management in
Banks” was not met,” the statement of the CBA says.
Premium Bank OJSC has been operational since January 25, 2008.
By the end of 2023, its assets totaled 685.1 million manat ($403
million), its loan portfolio was 471.8 million manat ($277.5
million), its liabilities were 507.8 million manat ($298.7
million), and its capital was 177.2 million manat ($104.2
million).
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