Jahangir Askerov increased his stake in Premium Bank

Former president of Azerbaijan Airlines (AZAL) Jahangir Askerov increased his stake in Premium Bank OJSC from 84.47% to 86.25%.

As reported by BAKU.WS, this was reported by Report with reference to the bank.

According to the information, the bank increased its authorized capital by 20 million manats, or by 12.9%, from 154.6 million manats to 174.6 million manats. All new shares issued for the capital increase were acquired by Askerov.

As a result, the stake of other shareholders - VIP Aviation Services LLC decreased from 15.22% to 13.47%, and Elvira Akhmedova's stake decreased from 0.31% to 0.28%.

As a reminder, Premium Bank was established in 1993 under the name AZAL Bank, changed its name to Silk Way Bank in 2008, and underwent another rebranding in 2018.