As is known, the number of closing banks in Azerbaijan has increased in recent years.
Yeniavaz.com reports that over the past 3 years the licenses of 7 banks have been revoked.
In the past 2023, 2 banks - Gunay Bank OJSC and Muganbank OJSC were closed by the Central Bank.
But which banks may be closed in 2024?
When we look at the financial statements released by banks for 2023, it appears that the main bank that is currently facing the threat of closure is “Bank BTB”.
“Bank BTB” is the only bank that has completed 3 of the last 4 years with a loss. In addition, in 2023, the volume of customer deposits in Bank BTB decreased by 6 million 491 manats or 39% compared to 2022.
OJSC “Premium Bank” is among the banks whose financial performance has deteriorated. Although Premium Bank OJSC increased its profit in 2023 compared to 2022, there was a sharp decrease in the deposit portfolio of this bank. Thus, in 2023, deposits of legal entities in the bank decreased by 29 million 914 thousand manats, and deposits of individuals - by 9 million 806 thousand manats. At the same time, the assets of Premium Bank JSC last year decreased by 7 million 86 thousand manats.
It should also be noted that both banks are owned by family members of former high-ranking officials.
74.99% of the shares of Bank BTB OJSC belong to Mehdiyeva Nigar Ismail gizi, 19.01% - to Sadiq Rza Ismail ogly, 6% - to Mahmudova Tukezban Aga gizi. It is reported that Nigar Ismail gizi Mehdiyeva, the main shareholder of Bank BTB, is the daughter-in-law of the former head of the presidential administration, former President of ANAS Ramiz Mehdiyev. Another shareholder of the bank, Sadiq Rza Ismail oglu, is her brother.
The main shareholder of Premium Bank is Zarifa Khamzaeva, the wife of former AZAL President Jahangir Askerov. 84.5% of the bank's shares belong to Zarifa Khamzaeva.

Elnur Ali