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TuranBank Announces Results for the First Quarter of 2025

15.04.2025

TuranBank OJSC, one of the leading banks in the country, has maintained its strong market position in terms of financial indicators, as revealed in the results for the first quarter of 2025.

As of the end of the first quarter, TuranBank's total assets reached 876 million manat. In line with its strategic objectives, the Bank continued to focus on financing micro, small, and medium-sized enterprises (MSMEs). The loan portfolio increased by 15.1 million manat compared to the end of last year, reaching a total of 667 million manat. This includes loans to business clients amounting to 366 million manat. The Bank’s deposit portfolio grew by 438 million manat, while individual deposits saw a rise of 1.7 million manat, totaling 369 million manat — a clear indicator of the high level of trust customers place in the Bank.

Notably, compared to the same period last year, TuranBank’s operating profit rose by 3.3 million manat, reaching 7 million manat. Interest income increased by 1.7 million manat, reaching 23 million manat, while non-interest income rose by 1.5 million manat, totaling 5 million manat. The Bank ended the first quarter of 2025 with a net profit of 1.2 million manat.

In terms of international collaboration, TuranBank successfully developed partnerships with global financial institutions to secure credit lines for institutional development and the financing of business entities. A notable achievement during the period was the signing of a loan agreement with the Black Sea Trade and Development Bank (BSTDB) to further expand financing for small and medium-sized businesses. Under the agreement, the BSTDB allocated a loan of 6 million US dollars (equivalent in Azerbaijani manat) for a period of two years. Additionally, the Bank entered into a loan agreement with the EMF Microfinance Fund, managed by the leading Swiss company Enabling Capital and regulated by FINMA. The agreement, valued at 4 million US dollars for a three-year period, is aimed at enhancing support for MSMEs.

As part of its ongoing Corporate Social Responsibility (CSR) program, TuranBank has remained dedicated to supporting the children of martyrs and veterans. In line with this commitment, the Bank participated in a charity campaign to support the sale of symbolic jewelry produced by the Children’s Shelter - Reintegration Center, operated by the "Azerbaijani Children" Public Union. This initiative is designed to help improve the professional skills of abused and orphaned girls while covering their educational expenses.

TuranBank, which has been operating since 1992, serves individual and corporate clients with 22 points of sale. You can get detailed information about TuranBank's service network across the country by clicking on the link. You can get detailed information about the products and services provided by the Bank by calling the Information Center at (012) 935, following TuranBank's official website or social media pages (Facebook, Instagram, etc.).

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