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Turanbank achieves 54% growth in assets

23 October 2008 10:17 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based Turanbankâ€™s assets stood at AZN 86.1 million, up 53.5% on a year earlier.
The bank said loan portfolio rose 50% to AZN 64.7 million, deposit portfolio increased 91.4% to AZN 42.3 million, total capital went up 32.8% to AZN 17.8 million and authorized capital jumped 36.4% to AZN 15 million.
Compared to the same period last year, revenue for January-September increased by 64% over the past year to AZN 10 million and expenditures rose by 2.1 times to AZN 7.9 million.
Profit declined 8.7% to AZN 2.1 million.
The bank established 6 bureaus of exchange, 1 ATM and 14 POS terminals over the past one year.
The number of employees rose 22.6% to 179.
Turanbank, owned by 17 legal and 37 individual bodies, has been in operation since 1992. The bank operates 11 branches, 21 bureau of exchange, 9 ATMs and 54 POS terminals throughout the country.