Azerbaijani bank launches lending on innovative methods
Azerbaijan, Baku, Sept. 24 / Trend N.Ismayilova /
The Azerbaijani TuranBank introduced a new consumer credit, using innovative methods, the bank said. Under the new methodology, the bank amended the preferential terms and conditions of the annuity payments.
Customers having a credit card will get a grace period of two months on consumer loans and will not pay on the first month. On the second month customer pays a percent for the amount received. 10 percent of the calculated percentage and basis amount principal shall be paid on the third month. If customer pays more than 10 percent, the amount paid may be re-used by the client on concessional terms.
The bank's aggregate capital makes 21.6 million manat as of Sept.1, while the authorized capital - 18.5 million manat. The bank's assets totaled 130.4 million manat, and its loan portfolio - 93 million manat.
The bank has 25 shareholders, including five legal entities (21.8 percent) and 20 individuals (78.2 percent). Presently, there are 11 bank branches and 21 exchange places in the country.
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