The assets of Turan Bank in the first nine months of 2016 compared to the beginning of the year decreased by 1.8% (9 million 689 thousand manat), amounting to 508 million 11 thousand manat.
The bank's capital during this period increased by 2% (1 million 102 thousand manat) to 54 million 402 thousand manat.
The bank's liabilities in the third quarter of this year were equal to 453 million 608 thousand manat.
The debt of Turan Bank to the Central Bank of Azerbaijan is 73 million 950 thousand manat.
The bank has 209 million 169 thousand manat of deposits, of which foreign currency deposits are 187 million 513 thousand manat.
The structure of deposits includes 37 million 849 thousand manat demand deposits of legal entities, 52 million 162 thousand manat of demand credits of individuals and 119 million 157 thousand manat of term deposits of individuals.
The bank's loan portfolio has decreased since the beginning of the year by 5 million 639 thousand manat (2%) and is 275 million 161 thousand manat, of which 15 million 301 thousand manat is problem loans. In general, the volume of bad loans in the total portfolio is 5.56%.
The loss of the bank for the first three quarters amounted to 1 million 105 thousand manat. ----71D
Economics
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In a significant step towards advancing economic reforms, Azerbaijan's Minister of Economy, Mikayil Jabbarov, met with a delegation led by Charles Donald, Chair of the OECD Working Party on State Ownership and Privatisation Practices and CEO of the UK Government Investments Agency. The meeting underscored Azerbaijan's partnership with the Organisation for Economic Co-operation and Development (OECD) and explored new avenues of collaboration.
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Azerbaijan is finalizing work on the "E-KOB evi" digital portal, aimed at streamlining business operations and enhancing coordination between entrepreneurs, state agencies, and private entities, Orkhan Mammadov, Chairman of the Management Board of the Small and Medium Business Development Agency (KOBIA), said.
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On December 3, Azerbaijan's Cabinet of Ministers approved new regulations requiring small electric transport vehicle operators to provide detailed data on vehicle use and operator information to government systems, effective immediately.
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In November 2024, the State Oil Fund of Azerbaijan (SOFAZ) sold $574.6 million, pushing the total dollar sales for the first 11 months of the year to $6.5 billion. According to SOFAZ, this represents a 40.8% increase compared to November 2023, when sales reached $339.9 million.
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