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Turan Bank achieves 27% year-on-year growth in assets

Turan Bank achieves 27% year-on-year growth in assets

18 November 2009 10:01 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of November 1, Azerbaijan-based Turan Bankâ€™s assets stood at AZN 103.3 million, up 26.7% from a year earlier.

The bank said loan portfolio rose by 14% year-on-year to AZN 73.7 million, deposit portfolio grew by 9.2% during January-October to AZN 32.3 million. Total capital went up by 12.9% to AZN 20.5 million and authorized capital grew by 13.3% to AZN 17 million.

Revenue rose 15.9% to AZN 13.2 million and expenditure reached AZN 10.7 million.

The remaining profit increased by 4.5% year-on-year to AZN 2.5 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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