Bank Of Baku

Turanbank’s Q1 profit drops 21%

Turanbank’s Q1 profit drops 21%
# 26 April 2012 13:31 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. In January-March, 2012, Turanbank got AZN 827,000 profit, down 21% from a year earlier.

During the reporting period, total incomes of the bank rose 14% to AZN 5.054 mln, interest incomes grew by 11% to AZN 4.309 mln, non-interest incomes increased 42% to AZN 745,000, total expenses rose 26.3% to AZN 4.227 mln, interest expenses rose 23% to AZN 2.322 mln, non-interest expenses grew by 305 to AZN 1.905 mln.

At the same time, interest profit of the bank dropped 0.9% to AZN 1.987 mln, non-interest loss grew by 23% to AZN 1.160 mln.

Remind that, Turanbank has been in operation since 1992. It has 12 branches across the country.
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