Azer-Turk Bank doubles profit

As of July 1, 2019, Azer-Turk Bank’s assets stood at AZN 336,009,000, up 7.1% in comparison to a year earlier.

Bank says AZN 159.011 million of the assets are loans given to customers. The loan portfolio increased by 19.4 year-on-year.

Liabilities rose by 8.8% to AZN 281.908 million, as well as deposit portfolio surged 21.8% to AZN 179.554 million, total capital dropped by 0.9% to AZN 54,101,000.

Incomes grew by 17.7% to AZN 15.556 million, expenditures ascended by 7.6% to AZN 14,936,000, savings on allocations for special reserves fell by 84.8% to AZN 154,000. Consequently, the bank ended the first half of 2019 on AZN 774,000 in profit, up 2.2-fold from a year earlier.

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