Bank Of Baku

Turanbank increases profit by 22%

Turanbank increases profit by 22%
# 27 October 2010 14:29 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of October 1, 2010, Azerbaijan-based Turanbank’s assets stood at AZN 126.485 mln, up 25.6% compared with a year ago.

Bank says the loan portfolio rose 35.6% to AZN 95.481 mln, consumer lending increased by 2.4 times to AZN 14.282 mln, deposit portfolio extended 54.3% to AZN 45.502 mln and population’s deposit rose 67% to AZN 39.741 mln. Total capital increased by 8.4% to AZN 22.012 mln, authorized capital by 8.8% to AZN 18.50 mln.

Income made AZN 11.308 mln, up 30% compared with a year ago. Expenditure gained 32% to AZN 8.518 mln. Profit climbed 22.2% to AZN 2.789 mln.

Turanbank has been in operation since 1992. The bank operates 11 branches, 12 ATMs and 73 POS-terminals.
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