Azer-Turk Bank's assets increase by 5 percent
Azerbaijan, Baku, Oct. 28 / Trend N.Ismayilova /
The assets of the Azerbaijani "Azer-Turk Bank" OJSC hit 49,089 million manat in the third quarter of 2010, the bank reported. The figure has increased by 5 percemt since early 2010.
During the third quarter of 2010, the bank's total income amounted to 5.95 million manat, expenses - 4.96 million manats and net profit - 984,730 manats. The ratio of expenses to income consisted of 83.44 percent.
As of Set.30, ROA and ROE was 2.64 percent and 10.56 percent consistenly.
In 2009, the bank's income amounted to 7.56 million manat, expenses - 5.727 million and net profit - 1.835 million manat.
Azer-Turk Bank was established May 25, 1995 by Turkish bank TC Ziraat Bank A.S. and Azerbaijani Agricultural and Industrial Bank (now non-banking credit organization Agrar Credit). Share holding of the Turkish capital in AzerTurk Bank may be increased in connection with the privatization of Agrar Credit. It owns 46 percent of shares in the authorized. The remaining 4 percent belong to Azerbaijan Turan Bank.
The Bank is a member-co-founder and shareholder of the National Processing Center MilliKart.
The official exchange rate is 0.8008 manat to $1 Oct. 28.
Do you have any feedback? Contact our journalist at: firstname.lastname@example.org