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Turanbank to receive $11 million foreign loan next year

24 September 2008 13:38 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Turanbank may receive a total of $11 million in loan from three international financial institutions in 2009, said Rashad Tanriverdiyev, strategic planning and international relations officer of the bank.
He added that the bank is negotiating with Planet Finance, US Development World Market and Dutch Triple Jump.
According to him, it is slated to receive $3 million from Planet Finance, $3 million from DWM and $5 million from Triple Jump.
â€œDWM is now exploring operation principle and financials of our bank. Loans will directly go to microfinance portfolio,â€ he noted.
As of July 1, Turanbankâ€™s assets stood at AZN 76.175 million, loan portfolio at AZN 57.417 million, deposit portfolio at AZN 33.889 million, total capital at AZN 15.703 million and authorized capital at AZN 14 million.
The bank operates 11 branches, 9 ATMs and 64 POS terminals throughout the country.
Turanbank, owned by 17 legal and 37 individual bodies, has been in operation since 1992.