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Azer-Turk Bank gets 27% year-on-year rise in profit

07 April 2009 13:09 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As at April 1, Azer-Turk Bankâ€™s assets stood at AZN 44.503 million, up 15% on a year ago.
The loan portfolio rose by 8.9% to AZN 25.166 million, deposit portfolio increased by 19.9% to AZN 29.091 million (including personal deposits rising 15.2% to AZN 11.296 million), total capital grew by 6.9% to AZN 12.993 million and authorized capital stock stood at AZN 10 million.
Consumer loans increased by 19.6% to AZN 8.574 million.
For the first quarter, revenue rose by 21%, year-on-year, to AZN 1.880 million and expenditures increased 16.6% to AZN 1.058 million.
The bankâ€™s profit jumped by 26.9% to AZN 822 000 and net profit went up by 28.3% to AZN 648 000.
In 1995 AzerTurkBank was established by Turkish T.C.Ziraat Bankasi A.S. (46%), German Ziraat Bank International AG (4%), Azeri Agrarcredit (46%) and Turanbank (4%). The bank operates 3 branches, 3 ATMs, 3 exchange offices and 13 POS terminals across the country.

* The US dollar exchange rate is AZN 0.8029.