As of November 1, 2013 TuranBank assets totaled 237.33 million manat, increasing by 14.85 % compared with the same period in 2012 and by 9.33 % compared with the beginning of 2013. At the reporting date the loan portfolio amounted to 183.671 million manat, which demonstrates the growth portfolio 13.88 % compared with the beginning of 2013 and 18.09 % from the same period in 2012.
In the period January-October 2013 deposit portfolio and the volume of customer accounts amounted to 104.1 million manat. In the structure of the deposit portfolio of term deposits of individuals amounted to 57.536 million manat, which marked 32.6% increase, compared to the same period in 2012.
As of November 1, 2013 the shareholders' equity compared with the beginning of the year increased by 33.34% and reached AZN 40 million. During the reporting period, the aggregate capital reached 45.5 million manat, which is characterized by a 42.79 % increase compared to the beginning of the year and 33.79 % compared with the same period in 2012.
The structure of the bank's share capital comprises 27 founders, 5 of which are legal persons (23.84 %) and 22 are individuals (76.16 %).
By results of January-October 2013 , the bank's income with total expenditures amounting to 18,085 million manats totaled 22.7 million manat. The net income for the period amounted to 4.615 million manat. -15D -
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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