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TuranBank has announced its financial results for the first half of 2024

15.07.2024

TuranBank OJSC, one of Azerbaijan's leading financial institutions, has maintained its strong market position based on key financial indicators for the first half of 2024.

As of the second quarter of 2024, TuranBank’s total assets reached 872 million manat. The bank's loan portfolio grew by 12.1%, or 69.4 million manat, compared to the same period last year, amounting to 645 million manat. Specifically, loans to business clients increased by 13.4%, or 44.5 million manat, reaching 375.4 million manat. The deposit portfolio stood at 454 million manat, with individual deposits rising by 0.5%, or 2.1 million manat, totaling 389.6 million manat.

In the second quarter of 2024, TuranBank continued to strengthen its international partnerships, securing credit lines for institutional development and business financing. Notably, the bank signed an agreement with the Asian Development Bank (ADB) to finance international trade transactions. As part of the new agreement, TuranBank was included in the ADB's “Trade and Supply Chain Financing Program” (TSCFP), which also approved a guarantee limit for trade financing.

Additionally, during the reporting period, TuranBank opened a correspondent account in US dollars through its collaboration with HAB Bank, a prominent institution in international payments and settlements in the United States. This move will streamline and expedite foreign currency transactions for TuranBank's customers. This agreement with HAB Bank is expected to bolster international money transfer services, enhance the bank’s activities in global settlements, and further solidify its position in the international financial market.

TuranBank, established in 1992, provides a wide range of services to both individual and corporate clients through its network of 22 branches across the country. To learn more about the products and services offered by the bank, you can call TuranBank’s Information Center at (012) 935. Additionally, you can explore further details on TuranBank's official website or follow its social media pages on platforms such as Facebook, Instagram, and others.

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