Turanbank achieves 7% year-on-year growth in assets

Turanbank achieves 7% year-on-year growth in assets
# 03 August 2009 12:07 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of July 1, Azerbaijan-based Turanbank’s assets stood at AZN 81.6 million, up 7.2% on a year earlier.

The bank said loan portfolio rose by 8.5% year-on-year to AZN 62.3 million, total capital went up by 25.2% to AZN 19.7 million and authorized capital grew by 21.4% to AZN 17 million.

Revenue reached AZN 8.61 million and expenditure reached AZN 6.9 million.

The remaining profit increased by 55.5% year-on-year to AZN 1.7 million.

Turanbank, owned by 5 legal and 20 individual bodies, has been in operation since 1992. The bank operates 11 branches throughout the country.
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