Turan Bank ends Q1 on profit

As of April 1, 2019, Turan Bank’s assets amounted to AZN 500.171 million, up 1% from the previous year.

Report informs referring to the bank that the loans issued to customers accounted for AZN 314.701 million. The loan portfolio rose by 15.6% year-on-year.

Liabilities rose by 1.1% to AZN 441.006 million, deposit portfolio surged by 4.9% settling at AZN 235.758 million, total capital soared 0.4% to AZN 59.165 million.

Interest incomes went up 10.3% settling at AZN 7.986 million, interest expenditures advanced 5.6% to AZN 5.406 million, non-interest incomes dropped by 18% to AZN 664,000, non-interest expenditures ascended by 22.7% to AZN 3.687 million, allocations for special reserves on compensation of possible losses on assets made up AZN 553,000. Consequently, the bank ended the first quarter of 2019 on AZN 109,000 in profit, while it ended the first quarter of 2018 on AZN 146,000 in loss.

Turanbank was established in 1992. Authorized capital is AZN 55.004 million.