Name

Premium Bank

Legal name

Premium Bank ASC

Website

https://premiumbank.az

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Depository Credit Intermediation (5221), Credit Card Issuing (52221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

General Purpose Credit Cards (FSAKABAA)

akta.pro secondary industry

Ancillary & Paid Loyalty Products (Subscriptions, Paid Status) (THABAKAN)

Keywords

• Retail banking services
• Corporate banking
• Travel reward cards
• Loyalty programs
• Digital banking

Headquarters

HQ city

Baku

HQ country

Azerbaijan

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income: Interest earned on loans including cash loans, travel loans, credit lines, mortgage loans, and business loans
2. Card Transaction Fees: Commission income from card transactions, ATM withdrawals, and payment processing
3. Account Services: Fees for current account maintenance, bank account opening, and currency exchange services
4. Money Transfers: Commission from domestic and international money transfers, urgent transfers
5. Documentary Operations: Letters of credit, guarantees, and encashment services for business customers
6. POS Terminal Services: Merchant services through Premium Pay terminals, POS-terminals for businesses

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels5 records

Core offering

Premium Bank is an Azerbaijani commercial bank that provides retail and corporate banking services centered on a Miles-branded credit and debit card portfolio integrated with the AllMiles and Airmiles loyalty programs linked to Azerbaijan Airlines. Its core offerings include Miles cards, current accounts, deposits, personal and business loans, money transfers, internet and mobile banking, merchant POS acquiring (Premium Pay), and trade finance/documentary operations for legal entities.

Product overview

Premium Bank is an Azerbaijani bank offering a comprehensive suite of banking products organized around a core travel-focused Miles card portfolio and traditional banking services. The product portfolio centers on Miles credit cards (Visa Infinite Miles, Visa Signature Miles, Visa Platinum Miles, Visa Gold Miles, Visa Classic Miles, Visa Signature Business AllMiles, Mastercard Black Edition Miles, Mastercard Platinum Miles, Mastercard Gold Miles, Mastercard Standard Miles) integrated with the AllMiles and Airmiles loyalty programs that allow customers to earn miles redeemable for Azerbaijan Airlines flights and partner services. The bank also offers Mastercard World Elite and MC World Elite debit cards, current accounts, deposits (Premium Deposit), various loan products (cash, travel, mortgage, business, Miles Credit Line), internet banking, mobile banking (Premium Mobile Bank), POS terminals, and ancillary services including airport lounges, concierge, and digital services. The architecture follows a traditional bank model where the Miles cards serve as the primary differentiation, supplemented by standard retail and corporate banking products.

Differentiator

Problem solved

Functional benefit

Brands

• AllMiles: Loyalty program operated by Premium Bank that allows cardholders to earn miles on purchases which can be redeemed for Azerbaijan Airlines (AZAL) flights and partner services.
• Airmiles
• Premium Pay
• Premium Bank Lounge
• Premium Mobile Bank

Products and services

• Miles Cards (Visa and Mastercard co-branded credit cards) A family of co-branded credit cards (Visa Infinite, Visa Signature, Visa Platinum, Visa Gold, Visa Classic Miles plus Mastercard Black Edition, Platinum, Gold, Standard Miles) that lets retail cardholders earn miles on everyday spending redeemable for Azerbaijan Airlines flights and partner benefits, with tiered perks such as lounge access and travel insurance.
• Visa Signature Business AllMiles Premium co-branded business travel card launched in partnership with Visa for entrepreneurs in Azerbaijan, allowing companies to convert business expenses into AllMiles travel rewards.
• Debit Cards (including Mastercard World Elite) Premium Bank's debit card lineup for individuals, including the Mastercard World Elite premium debit card offering lounge access and travel services, used for everyday payments and ATM cash access.
• Current Account
• Premium Deposit
• Cash Loan
• Travel Loan
• Mortgage Loan
• Miles Credit Line
• Business Loans
• Money Transfers
• Internet Banking (iBank)
• Premium Mobile Bank
• POS Terminals (Premium Pay)
• Salary Cards
• Business Cards
• Documentary Operations
• AllMiles Loyalty Program Digital loyalty program enabling Premium Bank customers to earn miles on everyday purchases and redeem them for Azerbaijan Airlines (AZAL) flights, partner services, and retail rewards.
• Airmiles Loyalty Program

Quantifiable outcome

• 30,000+ plastic cards issued as of 2017
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature8 records

Partnerships

16 partnerships are on record, tiered core and minor.

• Energy Market Regulatory Agency (EMTA)coreStrategic or Co-development Partner · 31 March 2026Partnership signed March 31, 2026 for providing concessional loans through the Energy Efficiency Fund for eligible projects.
• Zhejiang Chouzhou Commercial BankcoreStrategic or Co-development Partner · 30 July 2025Strategic partnership signed July 30, 2025 for international banking cooperation and correspondent banking services between Azerbaijan and China.
• VisacoreStrategic or Co-development PartnerLong-standing partnership with multiple co-branded card launches including Visa Infinite Miles, Visa Platinum Miles, Visa Signature Miles, Visa Signature Business AllMiles. Visa provides international payment infrastructure and joint marketing campaigns.
• MastercardcoreStrategic or Co-development PartnerPartnership for co-branded Mastercard products including MC World Elite, MC Black Edition Miles, MC Gold Miles, MC Platinum Miles. Multiple joint marketing campaigns and award recognitions.
• Azerbaijan Airlines (AZAL)coreStrategic or Co-development PartnerCore loyalty partnership through AZAL-Miles and AllMiles programs. Miles earned on card spending can be redeemed for Azerbaijan Airlines flights. Joint co-branded card development.
• SOCAR PetroleumminorGTM or Marketing PartnerPartnership launched October 24, 2019 for promoting cashless payments and electronic services at SOCAR fuel stations across Azerbaijan.
• AzercellminorGTM or Marketing PartnerRoaming partnership providing 2GB free internet for Visa Miles cardholders traveling internationally.
• ADY (Azerbaijan Railways)minorGTM or Marketing PartnerPartnership announced April 22, 2026 allowing AllMiles loyalty members to convert accumulated miles into train tickets.
• AirTransferminorGTM or Marketing PartnerTransportation partnership providing airport transfer services and 20% cashback for Miles card users.
• 189 TAXIminorGTM or Marketing PartnerTaxi service partnership providing exclusive driver service benefits for Visa cardholders.
• WoltminorGTM or Marketing PartnerFood delivery partnership with exclusive discounts and promotions for Visa cardholders.
• Pizza Hut AzerbaijanminorGTM or Marketing PartnerRestaurant partnership offering 7% cashback and bonus miles for Miles card payments.
• McDonald's AzerbaijanminorGTM or Marketing PartnerRestaurant partnership at Baku airport with 1% cashback and bonus miles for Miles card payments.
• KFC AzerbaijanminorGTM or Marketing PartnerFast food partnership offering 1% cashback and bonus miles for Miles card payments.
• iBoxminorGTM or Marketing PartnerDelivery service partnership providing extra cashback for Visa card payments.
• International Trade and Forfaiting Association (ITFA)minorOthersMembership in international trade and forfaiting association signed November 4, 2022.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Mastercard: Global card network and co-brand partner for Premium Bank's Mastercard Miles cards (World Elite, Black Edition, Platinum, Gold, Standard). Provides the acceptance rail, award recognition, and product co-marketing that underpin Premium Bank's premium card franchise.
• Visa Inc. Global card network and core strategic partner of Premium Bank — co-brands the Miles card family and has repeatedly awarded Premium Bank 'Best Issuer of Visa Signature'. Comparable as the broader ecosystem player whose acceptance, processing, and product roadmap shape Premium Bank's card business.
• International Bank of Azerbaijan: Largest state-owned bank in Azerbaijan and dominant incumbent across retail and corporate banking. Overlaps with Premium Bank across the full product spectrum but at much greater scale, with state-linked corporate relationships and a national branch network.

Direct peers

• Bank Respublika: Mid-sized Azerbaijani commercial bank offering retail and corporate banking, consumer lending, and Visa/Mastercard card products. Comparable in scale and product mix to Premium Bank and competes for the same retail and SME customers in Baku.
• Yelo Bank: Smaller Azerbaijani commercial bank with a digital and tech-forward positioning, offering cards, deposits, and consumer lending. Compares to Premium Bank as a niche/segmented domestic competitor, particularly in younger retail and digital customers.
• Unibank: Azerbaijani commercial bank serving retail and corporate customers with a similar product set (cards, deposits, consumer and business loans). Directly comparable in size, geographic focus, and product breadth to Premium Bank.
• Kapital Bank: Largest retail bank in Azerbaijan by active customer base and a major card issuer. Directly competes with Premium Bank in retail cards, deposits, and consumer lending; benefits from much greater scale and a broader merchant acquiring footprint.
• PASHA Bank: One of the largest privately held Azerbaijani commercial banks, offering a full retail and corporate product suite including Visa/Mastercard cards. Closest direct competitor to Premium Bank within the same domestic market, but materially larger in balance sheet and corporate banking depth.

Regional players

• TBC Bank: Leading listed commercial bank in neighboring Georgia with a comparable retail and SME product set including strong card and digital banking franchises. Comparable as a regional peer in the South Caucasus banking market with similar scale and digital ambitions.

Others

• Azerbaijan Airlines (AZAL): National flag carrier and the anchor partner for Premium Bank's AllMiles/Airmiles loyalty program; miles earned on Premium Bank cards are redeemed for AZAL flights. Not a banking peer, but the most strategically linked counterparty whose commercial health directly drives Premium Bank's core differentiation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/premiumbank
• Facebookfacebook.com/premiumbank.az
• LinkedInlinkedin.com/company/premium-bank-ojsc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Premium Bank