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--
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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