Technikabank achieves 80% rise in profit

Technikabank achieves 80% rise in profit
# 24 December 2008 13:49 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of December 1, Technikabank’s assets stood at AZN 395.5 million, up 28.8% on the same period last year.
The Bank said loan portfolio rose 31.4% to AZN 302.929 million, including consumer loans reaching AZN 68.189 million. Besides, deposit portfolio fell 9% to AZN 148.419 million, total capital increased 56% to AZN 58.240 million and authorized capital went up 52.9% to AZN 26.912 million.
The bank’s exposure to the impact of the global economic crisis is minimal given that its foreign debts account for only 13% of the obligations.
For January-November, revenue rose 93.6% to AZN 71.051 million and expenditures doubled to AZN 50.142 million. Profit jumped 79.3% to AZN 20.908 million.
Besides, ROA stood 5.4% and ROE at 46.1%.
As one of the top banks in Azerbaijan, Technikabank has been in operation since 1993.
The bank operates 35 branches, 46 ATMs and 330 POS terminals across the country. The number of its staff members is 576.
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