Technikabank raises profit by 5 times

Technikabank raises profit by 5 times
# 11 March 2011 11:24 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of January 1, 2011, Azerbaijan-based Technikabank’s ssets stood at AZN 519.389 mln, up 13% compared to a year ago.

Bank says deposit portfolio extended 43% to AZN 247.601 mln, loan portfolio soared 8.4% to AZN 378.204 mln, including consumer lending declined 24% to AZN 29.500 mln.

A the same time, total capital surged 14% to AZN 66.367 mln, authorized capital remained unchanged at AZN 53.685 mln.

Note that, total income dropped 21% to AZN 8.289 mln, expenditure slipped 45% to AZN 5.793 mln. Profit rose by 4.9 times to AZN 2.496 mln.

Remind that, Technikabank has been in operation since 1993. The bank operates 35 branches, 62 ATMs and 102 POS-terminals across the country.
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