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Turanbank predicts 56% rise in assets

24 September 2008 13:46 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Turanbank intends to achieve a 56% rise in assets to AZN 98.5 million this year, said Rashad Tanriverdiyev, strategic planning and international relations officer of the bank.
He added that loan portgeio is expected to rise 52% to AZN 74.3 million, deposit portfolio to more than double to $42.3 million and share capital to went up 44% to AZN 18 million by January 1, 2009.
According to him, the share capital rise will be paid up by existing shareholders.
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.