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Turan Bank achieves 22% year-on-year growth in deposits

Turan Bank achieves 22% year-on-year growth in deposits

12 January 2010 15:09 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan-based Turan Bankâ€™s assets stood at AZN 109.938 million, up 30.5% from a year earlier.

The bank said loan portfolio rose by 16.8% year-on-year to AZN 77.916 million and deposit portfolio grew by 21.8% to AZN 35.880 million. Total capital went up by 7.1% to AZN 20.344 million and authorized capital grew by 6.3% to AZN 17 million.
Revenue rose by 12.7% year-on-year to AZN 15.848 million and expenditure increased by 16.6% to AZN 13.247 million.

The remaining profit increased by 6.3% year-on-year to AZN 2.281 million.

Turanbank, owned by 5 legal (21.8%) and 20 individuals (78.2%), has been in operation since 1992. The bank operates 11 branches throughout the country.

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