Bank Of Baku

Technikabank sees growth in profit

Technikabank sees growth in profit
# 11 May 2011 10:48 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of May 1, 2011, Azerbaijan-based Tehnikabank’s assets stood at AZN 528.7 mln, up 6.7% in comparison to a year ago.

Bank says loan portfolio rose 11% to AZN 360.6 mln, term deposits of individuals soared 13.6% to AZN 176 mln.


Total capital increased by 54% to AZN 98.6 mln, including authorized capital surged 20% to ANZ 64.8 mln.

Note that, profit approximately tripled to AZN 2.9 mln.

Remind that, Technikabank has been in operation since 1993. The bank operates 35 branches and 5 departments.
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