Azer-Turk Bank sharply increases profit 

Kanan Sadigov
Author

Azer-Turk Bank OJSC ended January-September 2021 with AZN 729,000 in profit, up 8.2 times from the previous year, Report informs, citing the bank.

In the reporting period, the revenues surged 6.7% to AZN 24.388 million, expenditures went up 8.2% to AZN 23.963 million, savings on special reserves made up AZN 305,000. The bank did not pay profit tax.

As of October 1, 2021, the assets stood at AZN 368.063 million, up 4.8% from the previous year. Of this, AZN 197.084 million was loans to customers. The loan portfolio extended by 23.1% year-on-year.

Liabilities jumped 5.4% to AZN 311.058 million, including deposit portfolio soared 6% to AZN 174.511 million, net worth rose 2.1% to AZN 57.005 million.

Azer-Turk Bank was established in 1995. The authorized capital is AZN 50 million.

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