TuranBank issues financial summary of the past year

As of January 1, 2013 TuranBank assets totaled 217.6 million manat, increasing by 31.3% compared to the beginning of 2012. At the balance sheet the loan portfolio totaled 161.5 million manat, which demonstrates the growth of the portfolio of 38.1% compared to the beginning of the year.

As reported in the bank, in the period January-December 2012 the portfolio of deposits increased by 18.6% compared to the beginning of the year. In the structure of the deposit portfolio term deposits amounted to 59.8 million manat, and there is 12.6% increase compared to the same period in 2011.

To date, the total capital of TuranBank in comparison with the beginning of the year increased by 41.9% and amounted to 33.9 million manat. The authorized capital in the recapitalization has reached to 30 million manat, which is characterized by a 36.4% increase compared to the beginning of the year.

The structure of the bank has 27 founders, 5 of which are legal persons (19.41%) and 22 are individuals (80.59%).

On the results of the 12 months of 2012, the costs of TuranBank amounted to 19.2 million manat and the revenues were 23 million manat.

The net income for the period was 3.9 million manat. -15D--