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Turanbank gets 35% rise in total capital

10 June 2013 08:44 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. As of June 1, 2013, Azerbaijan-based Turanbank’s assets stood at AZN 228.6 mln, up 22.8% from 2012, 5.3% - from early 2013. Bank says the loan portfolio made AZN 175.5 ml, up 8.8% from early 2012, 22.5% - from 2012.

Note that Central Bank of Azerbaijan has taken a decision on increase of total capital of Azerbaijan-based commercial banks to AZN 50 mln by January 1, 2014. As of June 1, 2013, Turanbank’s authorized capital reached AZN 40 mln as a result of recapitalization, up 33.3% from the beginning of 2013, 68% - from previous year. Bank’s total capital increased by 35.2% to AZN 43.1 mln.

In January-May, the bank’s deposit portfolio soared 8.2%. Personal savings surged 20.6% to AZN 50.3 mln.

Note that bank’s stockholders are 5 legal entities (23.84%) and 22 individuals (76.16%).

Turanbank’s incomes made AZN 10.8 mln, expenditures – AZN 8.6 mln, balance profit – AZN 2.2 mln.

For the present, bank operates 14 sales points (7 – in regions) and 20 currency exchange offices.

Bank provides services on müÅŸtÉ™rilÉ™rinÉ™ “Western Union”, “Xpress Money”, “Contact”, “Migom”, “Zolotaya Korona”, “Privatmoney”, “Allure”, “Blizko”, “IBA-Express” and “Monex” systems.