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Turan Bank achieves 18% year-on-year growth in assets

Turan Bank achieves 18% year-on-year growth in assets

19 October 2009 15:21 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based Turan Bankâ€™s assets stood at AZN 101.3 million, up 17.7% on a year earlier.

The bank said loan portfolio rose by 8.9% year-on-year to AZN 70.4 million, total capital went up by 13.9% to AZN 20.3 million and authorized capital grew by 13.3% to AZN 17 million.

Revenue rose 20% to AZN 12 million and expenditure reached AZN 9.7 million.

The remaining profit increased by 10.3% year-on-year to AZN 2.3 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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