Starting banking activity since its establishment in 1992, Turanbank has always been proactively financed small and medium size private entrepreneurs in all regions along the line of the universal module, likewise offered variety range of service and banking products tailored to meet all population members` certain needs. Within the environment of 11 branches and 8 representative offices, Turan Bank’s total gains has reached up to 10.3 mln USD or 2.63 mln USD net profit, which enabled bank to raise its economic efficiency and took 6th rank among other 44 banks of Azerbaijan.
Services and products:
TuranBank OJSC has assimilated a credit line from Islamic Corporation for the Development of the Private Sector (ICD). Today TuranBank is one the few banks of Azerbaijan dealing with Islamic banking.
Since 2007 the Bank has been co-operating with the ICD. TuranBank also co-operates with the International Finance Corporation (IFC), the International Fund for Agricultural Development (IFAD) and the International Development Association (IDA/WBG).
For Jan-Nov 2008 TuranBank overall capital has grown by 23.4% and now makes AZN 18.5 million. Although the Bank’s charter capital meets the National Bank requirements, TuranBank keeps recapitalizing it and recently announced the charter capital growth up to AZN 16 million through placing the extra issue packages at the Stock Exchange.