"Premium Bank" has increased the requirement for the minimum amount of the deposit 5 times since the new year.

According to the information obtained by "APA-Economics" from the bank, the minimum requirement for making deposits to "Premium Bank" has been increased from 20,000 manats to 100,000 manats.

The bank has also sharply reduced interest rates on both manat and dollar deposits.

On the official website of "Premium Bank", the manat deposit rate is still indicated as 8%.

The bank said that this figure was reduced to 2%.

The bank has reduced the interest on dollar deposits from 2% to 1.5%.

It should be noted that "Premium Bank" was founded in 1993 under the name "AZAL Bank", changed its name to "Silk Way Bank" in 2008, and rebranded again in 2018.

The shareholders of the bank are Zarifa Hamzayeva with 84.46% share, "VIP Aviation Services" LLC with 15.22% share and Elvira Ahmadova with 0.32% share.

Shukran Mammadov