The state-run Azer-Turk Bank issued a semi-annual report, according to which the bank's profit amounted to 8.9 million manat.
Over H1 the bank's revenues exceeded 26.3 million AZN, including interest on customers loans - about 11 million AZN. As of July 1 this year, customers were provided loans totaling 154 million AZN. Provision was created for depreciation of loans in the amount of about 6 million AZN.
Expenses of Azer-Turk Bank on deposits amounted to only 2.7 million.
In January-June, the bank did not pay enterprise profit tax to the state budget.
At the end of June Azer-Turk Bank assets exceed 880 million AZN.
The state represented by the State Property Committee owns 75% of the shares of Azer-Turk Bank. Turkish Ziraat Bank owns 12.37%, and Ziraat Bank International – 1.08%. The bank's shareholders also include two insurance companies: Reinsurance Company AzRe - 6.55% and Gala Hayat Sigorta - 5%. - 08D -
Economics
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