Baku, Finance Time. TuranBank and responsAbility Investment AGhave signed an agreement in the amount of $2 million with a tenor of 3 years to expand SME financing. The loan facility will help to diversify the funding sources of the Bank, providing SMEs with access to long-term and low-cost financing.
responsAbility Investments AG is one of the world’s leading asset managers specializing in development investments. The company is owned by Swiss financial institutions as well as its staff. responsAbility currently has USD 2.9 billion of assets under management that is invested in around 535 companies in 93 countries. Founded in 2003, the company is headquartered in Zurich and has local offices in Hong Kong, Lima, Luxembourg, Mumbai, Nairobi, Oslo, Paris and Bangkok.
According to its strategy, the Bank contributes to the development of the non-oil sector segments like industry, agriculture, construction, commerce and service, and of regions in whole by carrying out projects of support to the population and small and medium entrepreneurship. The responsAbility's funds will make a significant contribution to enhance the Bank’s lending activities to small and medium businesses, particularly in rural areas where it has established a comprehensive network of branches covering all regional centers of the country.
Currently, the Bank actively cooperates with local and international financial institutions such as National Fund for Entrepreneurship Support, State Agency for Agricultural Credits and international organizations like US Agency for International Development (USAID), World Bank Group, International Finance Corporation (IFC), International Development Association (IDA), International Fund for Agricultural Development (IFAD), Islamic Development Bank Group, Islamic Corporation for Development of Private Sector (ICD), Islamic Trade and Finance Corporation (ITFC) Black Sea Trade and Development Bank (BSTDB), World Business Capital / OPIC, Bank im Bistum Essen, ECO Trade and Development Bank, Societte Generale, Mikrofinanzfonds, Cyrano Management, Sus Bee Microfinance, BCP and Commerzbank on financing of the private sector in various regions of the country.
The Bank offers to its clients consumer, business, micro, pawn loans, professional and mortgage loans with favorable conditions.
In order to ensure maximum convenience for its customers, the Bank enables the customers to use “E-reference letter” to obtain loans. In addition, the Bank has created an opportunity to order and repay bank loans through the website Hesab.az within the joint project with the payment portal Hesab.az.
It must be noted that customers can also order or pay the loan through a system of order and payment of the loan on the bank's website (www.turanbank.az). They can pay their loan debts via MilliÖN (PayPoint) and eManat terminals, too.
The Bank offers to its clients the wide range of deposits with high profitability within the campaign "Sirlər Xəzinəsi".
The payment cards of the international MaserCard system offered by the Bank, differ with the competitiveness. By means of these cards it is possible to be connected to such services as SMS notification, Card to Card, Mobile banking, Cash by Code, etc. Moreover, clients can order in Bank free of charge the card with individual design. For those who wants to present to the relatives an original gift bank offers the gift card.
Today, the Bank has 16 service points (located in nine regions: Ganja, Sumgait, Gazakh, Tovuz, Zagatala, Agstafa, Jelilabad, Agjabadi and Khachmaz) and 15 currency exchange points.
Detailed information on products and the services TuranBank can be received on the bank site, on https://www.facebook.com/TuranBankASC page, or in Information center of bank by phone number 935.
