15:53 - 16.04.2025

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April 16, Fineko/abc.az. Following the 1st quarter of 2025, TuranBank retained its market position in terms of financial indicators.

ABC.AZ informs with reference to the Bank that following Q1 of 2025, TuranBank's total assets reached 876 million manats. The bank further increased its financing of micro, small and medium-sized businesses in accordance with its strategic objective. Thus, bank's loan portfolio grew by 15.1 million manats compared with the end of last year and amounted to 667 million manats, including loans given to business clients - 366 million manats. The bank's deposit portfolio increased by 438 million manats, and individual deposits by 1.7 million manats up to 369 million manats, which indicates the high confidence of customers in the bank.

In particular, compared with Q1 of 2024, TuranBank's operating profit increased by 3.3 million manats to 7 million manats, interest income by 1.7 million manats to 23 million manats, and non-interest income by 1.5 million manats to 5 million manats. The bank completed the 1st quarter of 2025 with net profit of 1.2 million manats.

In the 1st quarter of 2025, Turanbank and the Black Sea Trade & Development Bank (BSTDB) signed a new loan agreement to expand financing for small and medium-sized businesses. In accordance with the agreement, the international financial institution provided the bank with a loan in Azerbaijani manats equivalent to $6 million for a period of 2 years.

In addition, the Bank signed a 3-year $4 million loan agreement with the microfinance fund EMF, managed by leading Swiss company Enabling Kapital, regulated by FINMA.