Azerbaijan’s Texnika Bank to increase aggregate capital in 2009
Azerbaijan, Baku, Dec. 13/ Trend , N. Ismayilova/ Azerbaijan's Texnika Bank plans to increase capital stock to AZN 90mln in 2009, Khagani Guluzade, first deputy director of the bank, said .
"At present, aggregate capital of the bank total AZN 60mln and we plan to increase by 50% in 2009,"
"Now the aggregate capital of bank totals nearly AZN 60mln, and in 2009 we intend to increase it by 50%," said Guluzade.
According to him, the increase in aggregate capital is expected due to rise in the profits of bank and its authorized capital. The authorized capital, which today amounts to AZN 27mln will be increased by 20% and brought to AZN 30mln.
Besides, next year the bank plans to increase other financial indices.
The assets and credit portfolio of the bank will be increased by 10-15%, said Guluzade. Now the business credits compose half of the credit portfolio of the bank, and in the future the bank intends to increase it by 60-70%.
"However in 2009 Texnika Bank intends to increase the consumer credits,
because in its credit policy larger preference is given to business credits,"
said the deputy director of bank.
Now Texnika Bank occupies the first place amongst the Azerbaijan banks for the the quality indicators of branch network, and therefore in 2009 the bank intends to continue development and expansion of regional branches, said Guluzade.
Official rate on Dec. 13 is 0.806 AZN/USD.
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