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Turanbank achieves 35% year-on-year growth in assets

Turanbank achieves 35% year-on-year growth in assets

12 March 2009 13:28 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of February 1, Azerbaijan-based Turanbankâ€™s assets stood at AZN 82.1 million, up 35.4% on a year earlier.
The bank said loan portfolio rose by 35% year-on-year to AZN 66.7 million, deposit portfolio increased by 98.2% to AZN 29.8 million, total capital went up by 37.2% to AZN 19.3 million and authorized capital stood at AZN 16 million.
Personal deposits doubled to AZN 24.6 million and term deposits more than doubled to 20.5 million.
Revenue for January increased by 67.2%, year-on-year, to AZN 1.4 million. Revenue most came from foreign exchange transactions.
Turanbank, owned by 17 legal and 37 individual bodies, has been in operation since 1992. The bank operates 11 branches throughout the country.

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