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Technikabank achieves 22% y/y growth in profit

12 February 2009 12:46 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of February 1, Technikabankâ€™s assets stood at AZN 429.936 million, up 22.4% on a year ago.
The Bank said loan portfolio rose by 36.3% to AZN 338.320 million, deposit portfolio fell by 21% to AZN 150.020 million, total equity capital increased by 35.8% to AZN 55.030 million and authorized capital stood at AZN 26.912 million.
Consumer lending contracted by 20% to AZN 62.683 million.
Revenue rose by 75.4% to AZN 8.7 million and expenditures increased by 52% to AZN 4.711 million. Profit doubled AZN 3.989 million.
The bank established 4 branches, 1 ATM and 50 POS terminals in January. The number of its staff members rose by 21.4% to 585.
As one of the top banks in Azerbaijan, Technikabank has been in operation since 1993.
The bank operates 35 branches, 3 service offices and 47 bureaus of exchange.