Investments

TuranBank adhered to its course of economic activity in the field of capital investments, and taking into account the profitability of the field of business it is planned to provide a balanced approach to this field in the next years. The capital investments of TuranBank are as follows:

  1. "TuranLizinq" LLC
  2. “Bashak Inam” Insurance Company
  3. “National Card” LLC Processing Center

1. "TuranLizinq" LLC: Along with the rapid growth in banking operations, TuranBank established its leasing affiliate as well. Taking into account the business potential of this field, TuranBank signed a memorandum of understanding on establishment of a subsidiary leasing entity within the programm, under Azerbaijan Leasing Development project implemented by the International Finance Corporation (IFC) and funded by Swiss State Secretariat for Economic Affairs (SECO). In the result of the technical assistance by IFC, on 21 August 2006, “TuranLizing” LLC, 100 percent of stocks owned by TuranBank, was established and officially registered.

2. “Bashak Inam” Insurance Company:
 “Bashak Inam” Joint Insurance Company started its activity on 9 August 1996 under the license granted by the Ministry of Finance for the relevant insurance activity. The stockholders of the company are “Bashak Sigorta” A.S. (owner of 49 percent of stocks), “TuranBank” OJSC (owner of 8 percent of stocks). The remaining 36 percent of the stocks are owned by “Azer-Turk Bank” OJSC, “AgrarCredit” Non-Bank Credit organization and individuals. In 2006, “Bashak Sigorta” A.S., the owner of a significant part, i.e. 49 percent of the stocks of the company, was purchased by Groupama, one of the leaders in the insurance market of France. “Bashak Inam” Joint Insurance Company takes one of the leading places in the insurance market of Azerbaijan.

3. “National Card"  LLC Procesing Center: “Milli Kart” LLC Processing Center was established as a processing center alternative to “Azerkart” LLC, which is a subsidiary of the International Bank of Azerbaijan in the plastic cards market of Azerbaijan. As a Processing Center, serving the domestic banks while the turnover of the operations carried out by means of plastic cards, it carries out the production and release of bank cards, use of bank cards in the domestic and international non-cash payments and settlements network, and provides services connected with settlements by means of such bank cards. The Center started its activity after its state registration in September. The shareholders of the Center are EBRD and 18 domestic banks – AtaBank, AzerdemiryolBank, StandardBank, Bank Respublika, Azer-TurkBank, Bank of Baku, Azerbaijan Industrial Bank, DebutBank, EmrahBank, KhalgBank, CredoBank, Azerbaijan Micro Finance Bank, ParaBank, RabitaBank, ZaminBank, and TuranBank (owner of 2,4 percent of stocks).

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