Assets of Turkmenvnesheconombank increase

Ashgabat, Turkmenistan, Feb. 21

By Huseyn Hasanov – Trend:

The State Bank for Foreign Economic Affairs of Turkmenistan (Turkmenvnesheconombank) increased its assets by 5 percent in 2018, Trend reports referring to the bank's message.

A 6.2-percent net profit growth was observed for this period, along with an increase in revenues over 1.4 times, the growth of the loan portfolio making up 8.7 percent, and equity capital increasing by 15.67 percent. By the end of 2018, the number of clients reached 436,398 people.

The dynamics of the main indicators of the bank’s activities over the past 10 years (2009-2018) have been indicated by the bank. As such, total assets increased 16 times and exceeded 36 billion Turkmenistan manats (TMT), credit investments increased 12 times and amounted to 18.4 billion TMT, and total equity increased 4 times.

This was achieved mainly through the annual capitalization of profits. The customer base increased by 27 times and amounted to 16.6 billion TMT, while the net profit of the bank increased 6.7 times and amounted to 126 million TMT by late 2018.

During the past year, the bank signed a number of loan agreements with Germany’s Commerzbank, the Japan Bank for International Cooperation (JBIC), the Asian Development Bank (ADB) and other financial institutions.

Moreover, cooperation agreements were signed during this period with the UAE’s Dubai Islamic Economic Development Center and Abu Dhabi Fund for Development, along with Qatar’s Al Qamra Holding Group and Saudi Arabia’s Global Projects Development Holding Co. and Riva Development Company.

With the support of the United Nations Development Program, a medium-term bank development strategy was developed, including the introduction of digital banking. Also, a document was prepared on the procedure for lending to projects financed by international and foreign financial institutions.

Secretary of Iran's Supreme National Security Council slams French president
Secretary of Iran's Supreme National Security Council slams French president
Liberation of Azerbaijani lands from occupation - gratifying – Iranian General
Liberation of Azerbaijani lands from occupation - gratifying – Iranian General
Iran strongly condemns disrespect for Prophet of Islam in France
Iran strongly condemns disrespect for Prophet of Islam in France
Loading Bars
Latest
Germany reports 8,685 new COVID-19 cases
Footage from liberated from occupation Gubadli city (VIDEO)
Footage from liberated from occupation Khanligr village of Gubadli region (VIDEO)
Armenia does not want to take bodies of its deceased soldiers as it fears anger of people - Assistant to the President of Azerbaijan
Kazakh PM meets with Turkish Defense Minister
Footage from liberated from occupation Padar village of Gubadli region (VIDEO)
Azerbaijan neutralizes one of 3 missiles shot by Armenian troops at Azerbaijan's Tartar
Azerbaijan's Bank Association denies lies spread by Armenian side
Effective co-op in field of border security established between Azerbaijan, Iran
Armenian Armed Forces shell Azerbaijan’s Tartar by using 'Smerch' missiles
Armenia indiscriminately targets civilians - Assistant to Azerbaijani president
Azerbaijanis hold rally in California, condemning Armenian terror (PHOTO)
Azerbaijani compatriots living in Minnesota hold protest rally (PHOTO)
Armenian Armed Forces shelling Azerbaijan's Tartar city, villages
Armenian armed forces shelling Tartar city with artillery, missiles in gross breach of humanitarian ceasefire
Iran's powder detergent production grows
Azerbaijanis in Denmark hold protest rally against Armenian terror (PHOTO)
Turkish embassy in Georgia talks joint energy projects of Georgia, Azerbaijan, Turkey
Protest rally against Armenian attack on Ganja held in Bielefeld, Germany (PHOTO)
Iranian Energy Exchange announces products to be on sale October 27
Armenian Armed Forces’ quadrocopter destroyed by Azerbaijani troops
Al Jazeera posts article covering aftermath of Armenian missile attack on Ganja
Baku's secondary housing prices show monthly decline
Investments in Iran's capital market increase
Uzbek Reconstruction and Development Fund to support creation of Export Support Fund
Turkey's export of defense products to Morocco plunges
Nagorno-Karabakh region to be liberated sooner or later: press secretary of Turkish president
USD falls against Uzbek soum for the first time in three months
Work connected with laying of gas pipelines on freed Azerbaijani territories kicked off (PHOTO/VIDEO)
Volume of maritime cargo shipment via Turkey from Spain disclosed
Turkmenistan significantly increases import of wheat flour from EAEU countries
Azerbaijani railway operator admitted to consortium of Trans-Caspian Transport Route
Georgia reveals results of 18 foreign exchange auctions conducted by National Bank
Iran Khodro reveals amount of funds saved thanks to domestic manufacturing
Export of Turkish-made defense products to China slumps
Armenian Armed Forces fire at school in Aghdam (PHOTO)
Assistant to Azerbaijani president comments on photo of Armenia's defense minister together with Armenian soldiers
Macron's anti-Islamic statements point to extreme misunderstanding of religion - Arab analyst
Uzbekistan’s Kashkadarya tops list of regions implementing foreign investments
Heritage Foundation's Foreign Policy Studies Center Director comments on photo showing Russian field camp set up near Armenian Tegh
Georgia sees increase in hazelnuts export
Georgia reveals volume of exported apples
U.S. regrets EU move on tariffs, seeks deal on Boeing-Airbus row
Russia seeking to be stabilizer in South Caucasus, says Russian expert
Uzbekistan discusses strengthening multilateral co-op with China and S. Korea
President Aliyev congratulates commanders of joint military corps who distinguished themselves in liberation of Gubadli city, villages of Gubadli district from occupiers
Review of statistics of people registered within state program 'Remotely from Georgia'
Volume of trade turnover between Turkmenistan, Russia’s Perm Krai revealed
Azerbaijani army does not fire at civilians - Defense Ministry
President Ilham Aliyev interviewed by Italian Rai 1 TV channel (PHOTO)
Iran launches new water treatment facility in Tehran
Iran studies Famotidine as Coronavirus treatment
Industrial production in Karabakh to increase in post-conflict period - CAERC head
Turkish president urges to boycott French goods
Work on power supply to strategic facilities in freed Azerbaijani territories underway (PHOTO)
Bank of Georgia suffers loss
S&P Global Ratings expects Azerbaijan's export to grow in next years
Iran’s Bahar Azadi gold coin price falling
Wildfire breaks out in Azerbaijan's Dashkasan district from Armenian attacks (VIDEO)
SOCAR considering new investments in Turkey
Romania's import of Azerbaijani products for 9M2020 revealed
Armenian Armed Forces fire at Azerbaijan’s Tartar district
Price of most Georgian companies’ shares up on London Stock Exchange
UK armed forces take control of ship in English Channel, seven people detained
Mobile phones and smartphones import down in Georgia
Azerbaijan confirms 131 more COVID-19 recoveries
Iran enlarges petrochemicals production
Azerbaijan hikes export to Belarus in 9M2020
S&P says Azerbaijani manat to maintain position against USD
German government raises 2020 GDP forecast to -5.5%
Turkmenistan ready to support contracts with companies of Russia’s Perm Krai
Recruiting children by Armenia against Azerbaijan is war crime, says Lebanese lawyer
President Ilham Aliyev: Azerbaijan restoring historical justice on battlefield
Azerbaijan's Aghjabadi district again under fire of Armenian Armed Forces
It is not worth using peacekeeping efforts of third states in settlement of Karabakh conflict - Georgian expert
Weekly digest of Azerbaijan’s energy sector
Uzbekneftegaz accelerates commissioning of technological devices due to autumn-winter period
EU's Barnier heads for London for Brexit deal talks
Corn oil produced by Georgian Plant Oil Company Qarva to enter supermarkets
President Ilham Aliyev talks proving to world that Karabakh is Azerbaijan's historical land
Turkey discloses 9M2020 data on cargo movement via its ports from UK
Armenia's leadership, criminal junta regime have no moral, ethical framework - Azerbaijani top official
Iran ready to fire at Armenian Armed Forces if they approach its border with Azerbaijan
Iran`s Quchan grapes exports revealed
Turkmen private sector provides half of industrial production in Balkan region
Amount of industrial enterprises launched in Iran's Hamadan soars
Iran reveals its COVID-19 data for October 26
Uzbekneftegaz eyes to increase natural gas production
Armenia never supports peace – Azerbaijani MP in interview to TRT World TV channel (VIDEO)
Karabakh conflict's settlement process is at hot point - Kremlin spokesman
Over 230 tankers with ACG oil shipped from Ceyhan terminal
Azerbaijani Prosecutor General's Office gives updates on civil casualties, damages
Iran's Shazand Oil Refining Company opens tender to buy equipment
Secretary of Iran's Supreme National Security Council slams French president
Canada points out importance of creating mechanism for resolving Nagorno-Karabakh conflict
EBRD supports construction of 100 MW wind farm in south of Kazakhstan
Georgian Tegeta Motors Company makes another deals
All nations in Azerbaijan united and will achieve victory - head of Russian community
Iran boosts generation capacity of thermal power plants
Kazakhstan's fixed investments volume decreases over 9M2020
All news