Azerbaijani bank ups card emission by 36 percent

Business Materials 19 July 2011 18:16 (UTC +04:00)

Azerbaijan, Baku, July 19 / Trend N. Ismayilova /

As of July 1, 2011 the assets of Azerbaijani Texnikabank totaled 547 million manat. They have increased by 11 percent or 60 million manat since early 2011, chairman of the bank's board Samir Huseynov told Trend.

Physical entities' deposits have increased by 23 million manat and hit 206 million manat since early 2011. The loan portfolio increased by 56 million manat and hit 382 million manat, he said.

The number of active cards increased by 36 percent and hit 66,500 units since early 2011.

The bank plans to increase the number of cards up to 100,000 units by late 2011.
The number of ATMs increased from 60 to 78. About 60 ATMs will be installed next two months.

The bank also increased the number of POS-terminals from 250 as of early 2011 up to 885 units as of Jan.-June.

The bank has 35 branches and five offices.

Texnika Bank has been operating on the banking market since 1993. At present, the majority shareholder of the bank is World Wines company. It owns 75 percent stake. Chairman of the Supervisory Board, Etibar Aliyev, controls 15 percent of the shares, and the U.S company Kazimir Investment Caspian Fund - 10 percent stake.

The official exchange rate is 0,7862 manat to $1.