Banking
Posted: 1 week ago

TBC Subsidiary Bank Strengthens Position in Azerbiajani Market

TBC Bank is strengthening position in the Azerbaijani market.

TBC subsidiary Yelo Bank increased its lending rate by almost 0.5 million to $162.2 million in the second half of 2020.

As of June 30, 2020, the bank's assets are $265.6 million, its loan portfolio is $180 million, and its deposits exceed $180 million. Yelo Bank has restructured 2,000 business loans (approximately $26 million) since the beginning of the year.

Amid a pandemic, the bank ended the first half of the year with a loss of $4.3 million.

Nikoloz Shurgaia, CEO of Yelo Bank, told Trend that despite the pandemic caused by the pandemic in the second quarter, the bank lent to virtually every area that could operate under the pandemic.

In addition, according to Shurgaia, the bank offered a number of opportunities to solve the problem against the background of the existing reality.

Yelo Bank ended 2019 with a profit of 1.5 million. The bank also planned to make a profit by 2020, although the pandemic prompted it to adjust its plans.