annual repOrt - Turan Bank
annual repOrt - Turan Bank
annual repOrt - Turan Bank
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12<br />
BanKInG<br />
SySteM<br />
The stable economic growth experienced in<br />
the country’s economy during recent years had<br />
a positive influence on all sectors, including the<br />
financial system. The year 2007 may be labeled as a<br />
successful year for the banking system which is one<br />
of the most significant parts of the financial system of<br />
our country and momentum of the economy as well.<br />
This year is also distinguished for the interest of the<br />
foreign financial institutions and investors towards<br />
our banking system and for their economic activeness<br />
in participation in our banking system. Incomplete<br />
realization of the economic capacity of the country<br />
and the role that the bank system may play in this<br />
field may be underlined as the major cause for such<br />
activeness. The sustained economic growth, the<br />
large economic potential of the country, year-by-year<br />
increasing economic capacity and the improvement<br />
of the banking system in correspondence with the<br />
2003<br />
2004<br />
2005<br />
2006<br />
2007<br />
1663<br />
46 банкs<br />
46 банкs<br />
44 банкs<br />
44 банкs<br />
Total assets, (млн АЗН)<br />
46 банкs<br />
2252<br />
www.turanbank.az<br />
3778<br />
305 branches<br />
350 branches<br />
6726<br />
2004 2005 2006 2007<br />
374 branches<br />
420 branches<br />
485<br />
branches<br />
international standards serve as the key factors<br />
ensuring the rapid development and progress of the<br />
banking system.<br />
As of the end of 2007, there were 46 banks<br />
and 96 non-bank credit organizations acting in the<br />
banking and credit system of the country. Compared<br />
to 2006, during the reporting year, the National <strong>Bank</strong><br />
of Azerbaijan granted licenses to 2 banks and 2 nonbank<br />
credit organizations for provision of relevant<br />
banking and credit services. Among the banks acting<br />
in the banking system 21 ones are registered as<br />
foreign capital banks, out of which in 6 ones (increased<br />
by one bank compared to 2006) the foreign capital<br />
constitutes more than 50 percent of the authorized<br />
capital, in 13 ones (no change compared to 2006)<br />
the foreign capital constitutes up to 50 percent of the<br />
authorized capital. There are two banks acting as<br />
branches of foreign banks in our country. With the
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