Azerbaijan, Baku, April 28 /Trend A.Hasanov/
The loan portfolio of the Azerbaijani Turan Bank increased by 21 percent in the first quarter of 2012 compared to the same period in 2011, reaching 136.09 million manat, the bank said in a statement issued on Saturday on its website.
Assets of the bank increased by 31.5 percent for the period, amounting to 179.79 million manat, compared to 136.76 million manat in the first quarter of 2011.
The total deposit portfolio of Turan Bank totaled 73.7 million manat in April 1, increasing by 66.8 percent compared to the same period last year, including retail deposits reached 50.25 million manat (with growth of 37.8 percent), deposits of legal entities - 23.46 million manat (growth more than doubled).
Bank's loan portfolio amounted to 173.32 million manat as of April 1, which is higher by 16.9 percent compared to the same period last year.
Revenues of Turan Bank totaled 18.678 million manat (with growth of 20.6 percent) and bank expenses for the year increased by 25 percent to 15 million manat. Net income increased by 12.2 percent to 3.27 million manat.
The total number of active cards for the period increased by 42.1 percent to 9636 units.
The authorized capital amounted to 22 million manat in the first quarter of 2012, up by 10 percent over the same period last year, total capital - 25.95 million manat (growth by 9.8 percent).
The Bank's strategy is focused on supporting small and medium-sized businesses and public services, with regard to which the bank aims to open branches in all regions of Azerbaijan.
Turan Bank was established in 1992. Currently Turan Bank has 26 shareholders, five of which - legal entities and 21 - individuals.
Official exchange rate on April 28 is 0.7862 AZN/USD
