Baku, Azerbaijan, July 16
By Kheyraddin Nasirzade - Trend:
Azerbaijan’s TuranBank increased own capital at the end of the second quarter of 2019 by 16.4 percent, compared to the same period last year, Trend reports referring to the financial report of the bank.
According to the report, its own capital as of June 30 amounted to 69.277 million manats, which exceeds last year’s figure by almost 9.8 million manats. The share capital increased by 18.2 percent to 65.01 million manats. The reserve fund amounted to 5.819 million manats.
As noted in the report, total assets in the first half of 2019 amounted to 510.934 million manats, which is 3.7 percent more than the same period last year. The main share of all assets is occupied by the loan portfolio, which amounts to 319.759 million manats, which is 17 percent more than last year’s figure. At the same time, the bank reduced investment in securities by 2.5 times to 16.261 million manats during the reporting period.
Also, the volume of deposits in other banks and financial institutions decreased by almost 40 percent to 36.656 million manats. At the same time, the bank increased balances on correspondent accounts by 26.5 percent, amounting to 80.452 million manats. The volume of cash and cash equivalents also increased by 29.2 percent to 24.793 million manats.
The total liabilities of the bank increased by almost 2 percent during the reporting period, reaching 441.656 million manats. 99 percent of liabilities consist of the deposit portfolio, in which the volume of customer deposits increased by 15 percent to 260.926 million manats. The remaining amount relates to liabilities to other banks and financial institutions on deposit and lending operations, the volume of which decreased by almost 13 percent.
TuranBank has been operating in Azerbaijan since 1992.
(USD = 1.7 AN on July 16)
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