Bank Of Baku

Technikabank achieves 36% y/y growth in assets

Technikabank achieves 36% y/y growth in assets
# 15 April 2009 13:31 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-ECONOMICS. As of April 1, Technikabank’s assets stood at AZN 431.483 million, up 36.2% on a year ago.

The Bank said loan portfolio grew by 27.2% to AZN 334.768million, deposit portfolio dropped by 25% to AZN 129.811 million, total equity capital increased by 40.3% to AZN 57.795 million and authorized capital stood at AZN 26.912 million.

Consumer lending jumped by 12.2% to AZN 60.947 million.

Revenue for January-March rose by 26% year-on-year to AZN 19.513 million and expenditures increased by 16.4% to AZN 12.681 million. Profit increased by 48.7% to AZN 6.832 million.

The bank established 3 branches, 1 ATM and 53 POS terminals during this period.

The number of its staff members rose by 13.6% to 576.

As one of the top banks in Azerbaijan, Technikabank has been in operation since 1993.
The bank operates 35 branches, 47 ATMs and 338 POS terminals.
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