Turan Bank quadruples profit

Turan Bank OJSC has ended January-September 2019 on AZN 329,000 in profit, up 5.1-fold from previous year, Report informs.

Bank says the revnues increased by 11.4% to AZN 28.181 million, expenditures rose by 11.9% to AZN 27.52 million, allocations for special reserves dropped by 47.6% to AZN 332,000. Bank did not pay profit tax.

As of October 1, 2019, the assets grew by 0.8% to AZN 517.997 million, of which AZN 335.367 million was the loans issued to customers. The loan portfolio extended by 15.6% year-on-year.

Liabilities slipped 2.6% to AZN 443.358 million, deposit portfolio surged 1.3% to AZN 256.543 million, authorized capital soared 27.3% to AZN 70.004 million.

Turan Bank was established in 1992.