Baku, Azerbaijan, Aug. 20
By Azad Hasanli – Trend:
Assets of Azebaijan’s Turanbank OJSC increased by 22.18 percent and reached 487.5 million Azerbaijani manats in 1H2016 compared to the same period of 2015, according to the bank’s financial report.
A lion’s share of the assets centered in the country’s Central Bank (91.3 million manats), in correspondent accounts (32.1 million manats, including 31.6 million manat in foreign banks), deposits at financial institutions (26.3 million manats), in cash funds (40 million manats).
Loans, issued for the population, exceeded 268.8 million manats (267.9 million manats in 1H2015) during the reporting period. Interest income on these loans amounted to 10.5 million manats and reserves totaled 13.3 million manats. Overdue loans accounted for 4.7 percent or 12.6 million manats.
|
Structure of Turanbank’s loan portfolio (1H2016) |
||
|
Crediting spheres |
Volume of crediting (in million manats) |
in foreign currency (mln. in manat equivalent) |
|
Public industries |
0 |
0 |
|
Private enterprises |
207.4 |
74.15 |
|
including: |
|
|
|
a) Services and trade |
76.98 |
40,.7 |
|
b) Agriculture |
37.7 |
3.57 |
|
c) Other sectors of industry (oil and energy sectors excluded) |
92.78 |
29.89 |
|
Mortgage loans |
40.16 |
11.87 |
|
Loans for individuals |
21.2 |
12.3 |
Despite the reduction in the bank’s customer base from 55,600 to 52,000 legal entities and individuals, the amount of deposits in Turanbank rose by 15 percent compared to the 1H2015.
The bank’s revenues totaled 18.34 million manats, expenses – 19.6 million manats in 1H2016. as a result, Turanbank completed the first half of 2016 with a loss of 1.26 million manats.
Turanbank OJSC operates since 1992 in Azerbaijan. The bank’s authorized capital exceeds 50 million manats and aggregate capital is almost 51.57 million manats.