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Technikabank achieves 27% y/y growth in assets

16 March 2009 12:40 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of March 1, Technikabankâ€™s assets stood at AZN 444.186 million, up 27.2% on a year ago.
The Bank said loan portfolio grew by 29.3% to AZN 337.401 million, deposit portfolio dropped by 14% to AZN 154.148 million, total equity capital increased by 48% to AZN 56.953 million and authorized capital stood at AZN 26.912 million.
Consumer lending jumped by 14% to AZN 61.348 million.
Revenue for January-February rose by 46% to AZN 14.305 million and expenditures increased by 8.6% to AZN 8.541 million. Profit nearly tripled to AZN 5.764 million.
The bank established 4 branches, 1 ATM and 52 POS terminals in January-February. The number of its staff members rose by 21% to 583.
As one of the top banks in Azerbaijan, Technikabank has been in operation since 1993.
The bank operates 35 branches, 3 service offices, 47 bureaus of exchange and 332 POS terminals.