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Turan Bank achieves 26% year-on-year growth in assets

Turan Bank achieves 26% year-on-year growth in assets

16 December 2009 15:41 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of December 1, Azerbaijan-based Turan Bankâ€™s assets stood at AZN 103.8 million, up 26.2% from a year earlier.

The bank said loan portfolio rose by 15% year-on-year to AZN 75.8million, deposit portfolio grew by 17.4% during January-November to AZN 34.6million. Total capital went up by 9.3% to AZN 20.8 million and authorized capital grew by 13.3% to AZN 17 million.

Revenue rose 13.4% year-on-year to AZN 14.4million and expenditure reached AZN 11.7 million.

The remaining profit increased by 1% year-on-year to AZN 2.7 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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