OREANDA-NEWS. September 14, 2009. TuranBank has summarized results of its financial performance for August 2009.

The Bank reports that as of 1st September 2009 their assets reached AZN 83.9 million (USD 104 million). By the reported date balance of Bank’s credit portfolio totaled AZN 65.4 million with rise of 2.7% compared to the 2008 relevant period.

“Following activity for Jan-Aug 2009 TuranBank’s earnings totaled AZN 10.8 million with 26.2% growth and expenditures of AZN 8.7 million.

Bank’s balance profit for the reported term reached AZN 2.1 million with 23.6% versus the last year’s same term,” it was informed.

For the reported period Bank’s overall capital increased by 15.6%, and by 1st September 2009 reached AZN 20.1 million.

In the process of recapitalization TuranBank’s charter capital reached AZN 17 million with 13.3% rise compared to the 2008 same period.

The Bank is numbering 25 shareholders, including 5 legal entities (21.8%) and 20 individuals (78.2%).

Growth was also observed on rise in number of POS terminals from 62 up to 73.

Today the Bank is numbering 11 branches (5 in regions: Tovuz, Zagatala, Ganja, Agstafa, and Sumgait) and 23 currency exchange offices.

Last month the Bank also finished work on connection to system of urgent money transfer system Allur allowing the clients to transfer money in US dollars, Russian rubles and rubles.

Thus, number of money transfer systems to which TuranBank has connected has reached 7. The Bnak is also negotiating about connection to money transfer systems Zolotaya Korona and Lider.