Question 1

What is TuranBank?

Accepted Answer

TuranBank is a universal commercial bank operating in Azerbaijan, specializing in financing micro, small, and medium-sized enterprises (MSMEs). Established as TuranBank OJSC, it is one of Azerbaijan's leading financial institutions with a strong focus on supporting private entrepreneurs and the real sector across all regions of the country. As of Q3 2025, the bank reported total assets of approximately AZN 893 million with a loan portfolio of AZN 696 million.

The bank serves over 190,000 customers through a comprehensive service network and has earned recognition for its strong international partnerships and commitment to MSME development.

Question 2

When was TuranBank founded?

Accepted Answer

TuranBank was established on June 12, 1992, under license No. 115 issued by the Central Bank of Azerbaijan. The bank was founded to provide universal banking services and actively finance small and medium-sized private entrepreneurs throughout Azerbaijan.

Since its inception, TuranBank has evolved from a regional bank to one of the country's leading financial institutions, maintaining its focus on supporting the development of the private sector and real economy. The bank has consistently expanded its operations and strengthened its position in the Azerbaijani banking market.

Question 3

Where is TuranBank headquartered?

Accepted Answer

TuranBank is headquartered at 85 Ismayil Bey Gutgashinly Street in the Yasamal District of Baku, Azerbaijan. The capital city of Baku serves as the bank's primary operational hub and administrative center.

From its Baku headquarters, TuranBank coordinates its nationwide operations and manages relationships with international financial institutions and development partners.

Question 4

Where does TuranBank operate?

Accepted Answer

TuranBank operates throughout Azerbaijan with a network of 16 sales points, of which approximately 9 are located in regional areas outside of Baku. The bank also maintains 6 representative offices across the country.

The bank's infrastructure includes approximately 26 ATMs and 162 POS terminals, providing banking services to customers in both urban and rural areas. TuranBank's distribution strategy emphasizes reaching underserved regions to support entrepreneurship and economic development across all parts of Azerbaijan.

Question 5

What services does TuranBank offer?

Accepted Answer

TuranBank provides comprehensive commercial and retail banking services, including:

Business Banking: Specialized lending programs for micro, small, and medium-sized enterprises, trade finance, supply chain financing, and working capital loans. The bank is particularly active in supporting the non-oil sector.

Retail Banking: Personal accounts, deposits, consumer loans, payment cards (debit and credit), and various utility payment services without commission.

Islamic Banking: TuranBank is one of the few banks in Azerbaijan offering Islamic banking products, having cooperated with the Islamic Corporation for the Development of the Private Sector (ICD) since 2007.

Digital Services: TuranBank Mobilbank mobile application with full banking functionality, internet banking platform, and innovative Open Banking features allowing customers to view accounts from other banks. The bank supports multiple international money transfer systems including Western Union, Contact, MoneyGram, and others.

Card Services: Member of MasterCard International, Azericard, and SWIFT networks, providing comprehensive card issuing and payment processing services.

Question 6

What makes TuranBank unique?

Accepted Answer

MSME Focus and International Recognition: TuranBank has established itself as a leader in financing small and medium-sized enterprises in Azerbaijan. In 2025, the bank won the "Best SME Deal of the Year" award at the 11th Trade and Supply Chain Finance Program Awards organized by the Asian Development Bank, recognizing its excellence in supporting businesses.

Islamic Banking Pioneer: TuranBank is one of the few banks in Azerbaijan offering Islamic banking services, having maintained partnerships with Islamic financial institutions since 2007.

Extensive International Partnerships: The bank cooperates with prestigious international financial institutions including the Asian Development Bank (ADB), International Finance Corporation (IFC), Islamic Development Bank Group, ECO Trade and Development Bank, BlueOrchard Finance, and numerous other development partners. These partnerships provide TuranBank with significant funding lines specifically designated for MSME development.

Digital Innovation Leader: TuranBank has implemented Open Banking functionality through its mobile application, enabling customers to centrally view information about accounts held with other banks—a pioneering service in Azerbaijan's financial market.

Strong Financial Performance: As of Q3 2025, the bank maintained steady growth with total assets reaching AZN 893 million and a loan portfolio growing by 9.1% compared to the previous period.

Question 7

What type of financial institution is TuranBank?

Accepted Answer

TuranBank is a universal commercial bank in Azerbaijan, providing both retail and commercial banking services. This classification allows the bank to offer a comprehensive range of financial products to individuals, businesses, and enterprises of all sizes.

The bank operates under a full banking license issued by the Central Bank of the Republic of Azerbaijan and participates in the State deposit insurance scheme, which guarantees repayment of individual deposits up to AZN 30,000. TuranBank functions as a joint-stock company (OJSC - Open Joint Stock Company), which is the standard corporate structure for commercial banks in Azerbaijan.

Question 8

What international partnerships does TuranBank maintain?

Accepted Answer

TuranBank has developed an extensive network of international partnerships that strengthen its capacity to serve businesses and contribute to Azerbaijan's economic development.

Development Finance Institutions: The bank works with the Asian Development Bank (ADB) through its Trade and Supply Chain Finance Programme, the International Finance Corporation (IFC), International Fund for Agricultural Development (IFAD), and International Development Association (IDA/World Bank Group).

Islamic Financial Institutions: TuranBank maintains strong relationships with the Islamic Corporation for the Development of the Private Sector (ICD), Islamic Development Bank Group, and Islamic Trade and Finance Corporation (ITFC), reflecting its position as a leader in Islamic banking in Azerbaijan.

Commercial Partners: The bank has established credit lines and partnerships with institutions including ECO Trade and Development Bank, Black Sea Trade and Development Bank (BSTDB), BlueOrchard Finance, CommerzBank, Societe Generale, and ZiraatBank, among others.

These partnerships provide TuranBank with substantial funding resources—including recent agreements for USD 15 million from ICD, EUR 5 million from ECO TDB, and various other facilities—specifically earmarked for supporting small and medium-sized enterprises in Azerbaijan.

Question 9

What memberships and associations does TuranBank hold?

Accepted Answer

TuranBank is an active member of numerous banking associations and networks in Azerbaijan and internationally.

National Associations: Azerbaijan Banks Association (ABA), Azerbaijan Micro Financing Association (AMFA), Azerbaijan Export & Investment Promotion Foundation (AZPROMO), Caspian Integration Business Club (CIBC), Baku Interbank Currency Exchange (BICE), and German-Azerbaijan Business Association (DAWF).

Payment Systems: The bank is a member of SWIFT (international banking network), AZIPS (Azerbaijan Interbank Payment System), Azericard, and MasterCard International.

These memberships enable TuranBank to provide comprehensive domestic and international banking services while actively participating in the development of Azerbaijan's financial sector.

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About TuranBank in Azerbaijan