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Turanbank to complete distribution of ICD loan by this year-end

27 September 2008 14:37 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. By the end of this year, Turanbank plans to complete distribution of the $1 million loan extended by the Islamic Corporation for Private Sector Development (ICD)
Rashad Tanriverdiyev, strategic planning and international relations officer of the bank, said loans are being distributed to healthcare, manufacturing and agricultural sectors under sharia. ICD extended the loan for 6 years with a grace period of one year.
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.
Turan Bank, owned by 17 legal and 37 individual bodies, has been in operation since 1992.