TuranBank completed the audit report for 2012 with KPMG

International auditing firm KPMG has provided TuranBank the consolidated audit report on the results of 2012.

The report covers the results of TuranBank and its subsidiary - the leasing company TuranLizinq.

According to the financial report at the end of 2012 assets of TuranBank reached 217.1 million manat, which is 31% higher compared to the results in 2011. The credit portfolio of the Bank for the year 2012 increased by 37.9% and amounted to 161.3 million manat. Clients' deposits grew by 18.5% and amounted to 102.8 million manat.

The authorized capital of the bank for the period increased by 36.4% and reached to 30 million manat. According to the results of the 2011 TuranBank received AZN 4 million book profit. Net profit amounted to 3.2 million manat.

We would like to note that this report is the first audit report, KPMG completed in the banking sector.

According to the adopted strategy, TuranBank focuses on the transparency of financial reporting standards for the provision of international financial reporting standards (IFRS) to shareholders, investors and other users. In this direction, TuranBank since 2002 has been collaborating with external international auditing firms of the "big four", as Deloitte & Touche, PricewaterhouseCoopers (PwC) and KPMG. - 15D -