Turanbank to complete distribution of ICD tranche in December

Turanbank to complete distribution of ICD tranche in December
# 05 December 2008 08:41 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. On December 15, Turanbank will get the second tranche of a $1 million loan extended by the Islamic Corporation for Private Sector Development (ICD).
Rashad Tanriverdiyev, international relations strategic planning officer of the bank, said this tranche will be $670 000 to complement the July tranche of $330 000 on-lent to small and medium-sized businesses.
He said the bank will complete the distribution of ICD loan by the end of this year.
The loan came for 6 years with a grace period of 1 year.
As of October 1, Turanbank’s assets stood at AZN 86.1 million, portfolio at AZN 64.7 million, deposit portfolio at AZN 42.3 million, total capital at AZN 17.8 million and authorized capital at AZN 15 million.
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.
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THE OPERATION IS BEING PERFORMED