Texnikabank raises share capital by 55%

Texnikabank raises share capital by 55%
# 17 August 2009 13:29 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Azerbaijan-based Texnikabank has posted its total revenue growing over four subsequent months.

The bank said revenue soared to AZN 39.3 million with a 17% rise in the past two months alone.

Interest incomes increased by 16.4% and non-interest incomes by 20.8% in July. Net profit stood ay AZN 9.5 million as at August 1.

Total equity capital grew by 16.5% year-on-year to AZN 60.1 million with Return on Equity (ROE) exceeding 17.5%.

In July, the general meeting of shareholders took a decision to increase the bank’s share capital by 55% to AZN 41.7 million from AZN 26.9 million through the profit gained up to date.

As at August 1, assets reached AZN 458 million with Return on Assets (ROA) at 2.13%.

Term deposits grew by 6.6% in July to AZN 91.5 million.

With deposits by individuals increasing by 4.1% to AZN 93.6 million in July, the total deposit portfolio reached AZN 164.6 million.

The bank’s total lending portfolio increased by 7.2% year-on-year to AZN 352 million, Consumer lending reached AZN 57.5 million at the end of July.

The issue of plastic cards increased by 12.1% to 43 000 in July.

The bank operates 48 ATMs and 341 POS terminals across the country.
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