OREANDA-NEWS. May 17, 2010. TuranBank has summarized financial performance for Jan-Apr 2010.

The Bank informs that as of 1st May of the year its assets reached AZN 115.9 million (USD 144.3 million) with rise of 5.4% versus early 2010 and by 43% against the 2009 same term.

“By the reported our loan portfolio balance totaled AZN 83.7 million (USD 104.2 million) with growth of 7.4% versus early 2010 and by 17.1% compared with the 2009 relevant period,” the Bank said.

For Jan-Apr 2010 TuranBank’s earnings amounted to AZN 4.7 million (USD 5.8 million) with growth by 16.7% compared to 2009 same period.

"Our balance profit for the reported period made up AZN 1.3 million (USD 1.6 million),” the Bank reported.

For Jan-Apr 2010 depositary portfolio increased by 17.2% against early 2010 and by 107.9% versus the 2009 same term up to AZN 42.3 million (USD 52.7 million).

In deposit portfolio structure population’s fixed deposits totaled AZN 26.1 million (USD 32.5 million) with rise of 15.9% compared to early 2010 and 93.5% against the 2010 relevant period.

TuranBank’s overall capital compared to index by last May rose by 5.8% and reached 20.2 million as of 1 March 2010. Bank’s charter capital for the reported period totaled AZN 18.5 million with rise of 8.8% since early 2010.

Currently the Bank is numbering 25 founder shareholders in its ranks, including 5 legal entities (equity stake of 21.65%) and 20 individuals (78.35%).

Today the Bank has 11 branches (5 in regions: Tovuz, Zagatala, Ganja, Agstafa, and Sumgait) and 20 currency exchange offices.

Operating in Azerbaijani financial sector within 17 years TuranBank renders now complex banking services both private persons and in corporate direction. Main advantage and strategic vision of the bank in the market is to render assistance to small and middle-sized entrepreneurship in the republic’s capital and regions.