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Turanbank achieves 33% growth in assets

16 January 2009 14:06 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan-based Turanbankâ€™s assets stood at AZN 84.21 million, up 33.3% on a year earlier.
The bank said loan portfolio rose 36.5% to AZN 66.69 million, deposit portfolio increased 68.4% to AZN 30.73 million, total capital went up 26.7% to AZN 19 million and authorized capital jumped 23% to AZN 16 million.
Consumer loans grew 61% to AZN 8.99 million.
Revenue for 2008 increased by 62% over the past year to AZN 14.06 million and expenditures rose by 95.2% to AZN 11.36 million.
Profit declined 5.5% to AZN 2.7 million and net profit dropped 5% to AZN 2.13 million. The number of staff increased 28% to 197. Turanbank paid AZN 929 000 in tax, up 4.3% on a year ago.
The bank established 8 bureaus of exchange, 1 ATM and 21 POS terminals over the past one year.
Turanbank, owned by 17 legal and 37 individual bodies, has been in operation since 1992. The bank operates 11 branches, 23 bureau of exchange, 9 ATMs and 73 POS terminals throughout the country.